WHAT‘S NEW
Beijing Releases White Paper for Web3 Innovation and Development The release of the white paper coincides with new digital asset regulations in Hong Kong, raising further interest in China’s stance toward the crypto industry. Beijing’s municipal government has unveiled a white paper to foster innovation and advance the Web3 industry.
With the goal of establishing Beijing as a prominent global innovation hub for the digital economy, the commission plans to allocate a minimum of
100 million yuan ($14 million) annually until 2025. Yang Hongfu, the director of the Zhongguancun Chaoyang Park management committee, revealed the funding during the forum, highlighting that Zhongguancun is commonly recognized as China’s Silicon Valley.
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