Hong Kong Appoints New Members to Internet Task Force

The Hong Kong SAR government has appointed 20 new unofficial members to the Third Generation Internet Development Task Force effective July 1, 2025.

This appointment is part of the Hong Kong Government’s strategy to position the city as a leader in digital assets by leveraging industry expertise.

20 Industry Experts Join Hong Kong’s Internet Task Force

Hong Kong’s government updated its Third Generation Internet Development Task Force, effective July 1, 2025. Twenty industry leaders, including Cai Wensheng and Dr. Xiao Feng, are set to drive the digital asset policy. The government highlights the expertise of new appointees as essential for the region’s ambitions.

This move is expected to enhance Hong Kong’s standing as a global digital asset hub. The government’s “Hong Kong Digital Asset Development Policy Declaration 2.0” exemplifies its commitment to robust technological ecosystems.

Public reaction remains moderate. Official statements emphasize the progressive nature of the task force’s goals, yet direct responses from appointed members are pending observation on social platforms and forums.

“The Task Force will help promote the continued prosperity of Hong Kong’s digital asset ecosystem and build Hong Kong into a leading global digital asset hub.” — Financial Secretary, Hong Kong SAR Government

Task Force’s Influence on Blockchain and Digital Economy

Did you know? The Task Force’s ambition aligns with Hong Kong’s 2023-24 Budget, which initially marked its Web3 regulatory expansion phase.

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Coincu research suggests that Hong Kong’s initiative may encourage more development in blockchain technology, promoting growth in GDP related to digital assets and progressive regulations. Such developments underline Hong Kong’s potential leadership in the digital financial ecosystem.