Web3 Carnival From April 6 to 9, the 2025 Web3 Carnival initiated by Wanxiang Blockchain Lab and HashKey Group was successfully held in Hong Kong

Authors: Lu Wenlong, Liu Honglin

From April 6 to 9, the 2025 Web3 Carnival initiated by Wanxiang Blockchain Lab and HashKey Group was successfully held in Hong Kong. The event covered topics such as public chain development, DePIN, real-world asset chain RWA, privacy protection, cross-border payment Payfi and other popular tracks in the industry. The scale of the event venue and the number of registered visitors during the event also increased significantly compared with last year. Most of them were Chinese, including many visitors and practitioners from the mainland.

From April 6 to 9, the 2025 Web3 Carnival initiated by Wanxiang Blockchain Lab and HashKey Group was successfully held in Hong Kong. The event covered topics such as public chain development, DePIN, real-world asset chain RWA, privacy protection, cross-border payment Payfi and other popular tracks in the industry. The scale of the event venue and the number of registered visitors during the event also increased significantly compared with last year. Most of them were Chinese, including many visitors and practitioners from the mainland.

*Picture from the Internet

This also reflects an interesting phenomenon in the Web3 industry in the Chinese community. Due to the differences in policy supervision between the mainland and Hong Kong regarding the Web3 industry, many Chinese teams choose to place the market and project landing in Hong Kong, and the underlying technology development of the project in the mainland to meet compliance requirements. On the one hand, they can leverage Hong Kong's status as an international financial center and policy innovation to build the international influence of brands and products, and on the other hand, they can rely on the mainland's strong reserve of technical developers to iterate and update technology.

This also reflects an interesting phenomenon in the Web3 industry in the Chinese community. Due to the differences in policy supervision between the mainland and Hong Kong regarding the Web3 industry, many Chinese teams choose to place the market and project landing in Hong Kong, and the underlying technology development of the project in the mainland to meet compliance requirements. On the one hand, they can leverage Hong Kong's status as an international financial center and policy innovation to build the international influence of brands and products, and on the other hand, they can rely on the mainland's strong reserve of technical developers to iterate and update technology.

However, one of the industry pain points brought about by this model is how Web3 companies can legally achieve sustainable interaction between business segments in the mainland and overseas and achieve better cross-border flow of funds? For example, how can mainland projects legally go overseas, how can profits from overseas projects be legally remitted back, and how can overseas financing legally support the

However, one of the industry pain points brought about by this model is how Web3 companies can legally achieve sustainable interaction between business segments in the mainland and overseas and achieve better cross-border flow of funds? For example, how can mainland projects legally go overseas, how can profits from overseas projects be legally remitted back, and how can overseas financing legally support the