The Memorandum of Hangzhou Hong Kong Web3 Industry Linkage: Achieving a Convergence Effect of 1 + 1 Greater Than 2

On April 12, it was reported that at the 2023 Hong Kong Web3 Carnival, Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People’s Government of Hangzhou, and Mr. Li Dafeng, representative of the Hong Kong Trade Development Council, signed the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage. By fully leveraging the respective advantages of Hangzhou and Hong Kong, strengthening resource complementarity and sharing, deepening industrial linkage and cooperation in the Web3 field, and effectively promoting the deep integration of the Web3 industry between Hangzhou and Hong Kong, we aim to achieve a convergence effect of 1+1 greater than 2.

The Hangzhou Hong Kong Web3 Industry Linkage Memorandum was officially signed at the 2023 Hong Kong Web3 Carnival

Technology has been driving the world forward at an unprecedented pace, and the advent of the Web3 era has brought limitless possibilities for the digital world. On April 12, it was reported that Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People’s Government of Hangzhou, and Mr. Li Dafeng, representative of the Hong Kong Trade Development Council, signed the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage at the 2023 Hong Kong Web3 Carnival. Through this memorandum, both cities aim to achieve a convergence effect of 1+1 greater than 2 by fully leveraging the respective advantages of Hangzhou and Hong Kong and thereby promoting the development of the Web3 industry.

The Advantages of Hangzhou and Hong Kong in the Web3 Industry

Hangzhou, as a leading city in China’s Internet industry, has a complete industrial chain with a high degree of internationalization. On the other hand, Hong Kong, as an international financial center and a hub of innovation and entrepreneurship, has a superior geographical location and a wealth of resources.
The Web3 industry is an emerging industry that combines blockchain technology, artificial intelligence, cloud computing, and big data. By leveraging their respective strengths in these areas, Hangzhou and Hong Kong can complement each other’s weaknesses, promote the development of the Web3 industry together, foster innovative companies, and promote the deep integration of the Web3 industry.

Resource Complementarity and Sharing: The Key to Industrial Linkage

Resource complementarity is the foundation of industrial cooperation between Hangzhou and Hong Kong. By identifying the strengths and weaknesses of each city, both sides can make full use of their advantages, resources, and capabilities to achieve better results.
Sharing resources should be a focus of this agreement. Sharing cross-border technological innovations, building R&D centers, and accelerating the integration between industry and finance in both cities can help to ensure seamless cooperation between the two cities.

Deepening Industrial Linkage and Cooperation in the Web3 Field

Hangzhou and Hong Kong are committed to deepening industrial linkage and cooperation in the Web3 field through the memorandum. The specific measures include the establishment of the Web3 industry alliance, the establishment of funds for Web3 industry investment, and the development of a cooperative ecosystem for the Web3 industry.
Besides, both cities are committed to transferring their respective advantages in the Web3 industry to the other. Hong Kong is committed to expanding the market and scope of the Web3 industry in Hangzhou, while Hangzhou is committed to promoting the application of the Web3 industry in Hong Kong and supporting the development of Web3 startups in Hong Kong.

The Convergence Effect of 1 + 1 Greater Than 2

The Memorandum of Hangzhou Hong Kong Web3 Industry Linkage represents the integration of two of the world’s most dynamic cities in the field of technology. By leveraging their respective strengths, Hangzhou and Hong Kong have created a unique platform for deepening mutual cooperation and resource sharing, taking the first step towards the creation of a Web3 industrial innovation network.
Through the Memorandum, both parties aim to achieve the convergence effect of 1 + 1 greater than 2 by integrating the advantages and capabilities of the two cities, promoting the development of the Web3 industry with new and innovative ideas, and building an even brighter future for the digital world.

FAQs

1. What is the Web3 industry?

The Web3 industry is an emerging industry that combines blockchain technology, artificial intelligence, cloud computing, and big data.

2. What are the specific measures of the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage?

The specific measures include the establishment of the Web3 industry alliance, the establishment of funds for Web3 industry investment, and the development of a cooperative ecosystem for the Web3 industry.

3. What is the convergence effect of 1 + 1 greater than 2?

The convergence effect of 1 + 1 greater than 2 means that the combination of two resources yields a result that is greater than the sum of their individual benefits.