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Hong Kong Legislative Council member Qiu Ta-kan submitted the three arrows and three circles policy initiative: comprehensively promote the development of the digital economy and Web3

On August 31, Hong Kong Legislative Council member (Technology and Innovation sector) Charles Mok submitted the Three Arrows and Three Circles Economic and Technological Development Policy Proposal, and put forward multiple suggestions, including the establishment of a HKD 5 billion angel mother fund by Hong Kong Investment Management Limited to stimulate investment in the science and technology industry, launch a quota investment introduction plan to attract potential growth-stage technology companies, establish a secondary market pairing fund to revitalize the secondary capital market, cancel or lower the stock stamp duty, issue tokens to support the development of the New Territories Science and Technology City, accelerate the launch of the digital Hong Kong dollar at the retail level, launch a Hong Kong dollar stablecoin sandbox, and provide policy incentives to encourage private institutions to issue compliant Hong Kong dollar stablecoins, hoping to use market forces to drive Hong Kong's economy to accelerate recovery, and through comprehensive promotion of digital economy and Web3 development, to create more new momentum for Hong Kong.

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