Paul Chan: Hong Kong Will Strive to Become a Core Hub for AI and Web3 Technology Applications and Scaled Development

Foresight News reports that Hong Kong Financial Secretary Paul Chan delivered the opening speech at the 2026 Hong Kong Web3 Carnival, stating, 'The rise of AI agents this year marks another noteworthy milestone. The intersection of artificial intelligence and technologies like Web3 is becoming a game-changer. Their combination will elevate transaction efficiency to a new level and extend across a broader range of business domains, from finance and trade to wealth management, supply chain operations, and logistics. This integration will create numerous new opportunities but will also bring about a series of challenges, such as issues related to infrastructure payment and settlement systems, as well as regulatory frameworks. Hong Kong's approach to Web3 and AI has always been clear: maintaining consistency under the "one country, two systems" principle. As an international financial center, Hong Kong embraces innovation, with stablecoins, tokenization, and AI becoming integral components of the mainstream future. Hong Kong's regulatory bodies bear a dual mission—to regulate prudently while fostering market development. This requires us to encourage and support more innovative applications, continuously refine our institutional framework based on accumulated experience, and adopt an open and balanced attitude to keep pace with the times. I firmly believe that Hong Kong will undoubtedly become a critical hub for the flourishing, widespread application, and responsible scaling of next-generation technologies.'