Written by: Lu Wenlong, Liu Honglin
From April 6 to 9, the 2025 Web3 Carnival initiated by Wanxiang Blockchain Laboratory and HashKey Group was successfully held in Hong Kong, covering themes including public chain development, DePIN, Real World Assets (RWA), privacy protection, cross-border payment Payfi and other popular industry tracks. Compared to last year, this event's venue scale and registered audience have grown significantly, with a majority of Chinese faces, including many audiences and practitioners from mainland China.
* Image source from the internet
This reflects an interesting phenomenon in the Web3 industry among Chinese communities. Due to policy and regulatory differences between mainland China and Hong Kong, many Chinese teams choose to place their market and project landing endpoints in Hong Kong while keeping underlying technical development in mainland China to meet compliance requirements. On one hand, they can leverage Hong Kong's international financial center status and policy innovation to build international brand and product influence; on the other hand, they can rely on mainland China's robust technical development personnel reserves for technological iteration and updates.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating into English.]For example, if a company is engaged in software export business, if the software is delivered through network download or other electronic forms, it can handle foreign exchange settlement at the bank with contract, invoice, and other transaction vouchers. If the software is provided on physical media with perpetual usage rights, it should handle foreign exchange settlement according to goods trade-related regulations.
