Hong Kong Chief Executive John Lee Ka-chiu opens Digital Economy Summit

Hong Kong Chief Executive John Lee Ka-chiu opens Digital Economy Summit

The Hong Kong Chief Executive, John Lee Ka-chiu, delivers a speech at the opening ceremony of the Digital Economy summit at the Hong Kong Convention and Exhibition Centre on Thursday. Hong Kong Chief Executive John Lee Ka-chiu, speaking at the opening ceremony of the Digital Economy summit, said: We are now to start a new chapter of the digital economy. The event, called Emerging with resilience: Fostering a smarter future, seeks to bring together entrepreneurs, policymakers, and academics worldwide to share their insights on topics such as smart cities, data innovation, fintech, Web 3, artificial intelligence, and big data, as well as new industrialization.

The city's transition to digital economy was a positive message, thanks to its advantageous geographical location and support from national strategies.

Under the exclusive principle of one country, two systems Hong Kong enjoys the unparalleled advantage of having the strong support of national strategies while being connected with the rest of the world, Lee said.

Lee also said that the National 14th Five-Year Plan 2021 - 25 and the expansion of the Guangdong-Hong Kong-Macao Greater Bay Area are predicted to increase the city's status as an international innovation hub.

He said that the widespread adoption of digital technologies had transformed traditional ways of conducting business during the COVID-19 pandemic.

From e-commerce and online education to remote work and smart city innovations, the digital economy offers a way forward for businesses and individuals, providing opportunities for growth and progress in the face of uncertainties, he said.

The SAR government, which launched the 2023 - 24 budget, allocated more than HK $700 million $859.2 million for the development of the digital economy, and over HK $9 million for a series of international initiatives.

Cao Shumin, deputy director of the Cyberspace Administration of China, said in his opening remarks that the digital economy has become an important engine for high-quality development with the advancement of the Greater Bay Area.

Hong Kong needs to speed up the construction of its data center and the intelligent transformation of traditional infrastructure, she said.

Hong Kong should fully leverage the advantages of the one country, two systems principle to create an globally competitive digital industry cluster for the Greater Bay Area, she said.

In the first InnoEX and the ongoing summit, Hong Kong demonstrated its potential for developing the digital economy with the introduction of the Institute of Web 3.0 Hong Kong, the deputy director of the Central People's Government in the Hong Kong Special Administrative Region.

Hong Kong's Top Talent Pass scheme, which offers fast-track employment visas for individuals with exceptional educational backgrounds or those drawing high salaries - received approximately 5,800 global applications in the two weeks after its launch, highlighting the city's appeal to international talent.

The annual summit took place in Hong Kong by the Hong Kong SAR government and Cyberport.

Sun Dong, a lawmaker from the Information Technology functional constituency in the Legislative Council, and Duncan Chiu, a lawmaker from the Legislative Council, attended the opening ceremony.