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Hong Kong’s Chief Executive to lead I&T development as Hong Kong to invest heavily in development of I&T start-ups

The Chief Executive of Hong Kong, Ms Carrie Lam, at a dialogue session at the RISE 2018 (July 10), announced that she will be leading the development of innovation and technology in Hong Kong by devoting an immense amount of resources to the sector and providing support to start-ups proactively.

Ms Lam made a statement at the RISE 2018 conference and said that while there is room for improvement in the arena Hong Kong’s smart city development and the city is quickly catching up to countries across the globe and is making headway in the fields of technology and finance.

Ms Lam, in dialogue with the moderator, discussed the various methods that can be employed to promote I&T development at a session with an audience of over 1,000 people. In addition, she also stated that a favourable environment for I&T is being created in Hong Kong through the eight-pronged approach reported on earlier at the Innovation & Technology (I&T) Symposium in 2017; one of the eight moves being that the government will continue to provide the hardware in terms of technological research infrastructure and related facilities.

It has been almost a year since the Hong Kong Government formed the Financial Leaders Forum which is chaired by the Financial Secretary, Mr Paul Chan Mo-po. Ms Lam indicated in her election manifesto that the government must play a more active and leading role in Hong Kong’s policymaking and matters relating to monetary stability, financial safety, and regulation to reinforce its position as an international financial centre. To achieve this and to strike a balance between market development and protection of account holders, consumers and investors, the creation of the Financial Leaders Forum, chaired by the Financial Secretary, was proposed. The forum provides a platform to discuss strategic and forward-looking proposals on the above-mentioned areas and to keep track of implementation of such proposals by government departments and other relevant parties. Additionally, it facilitates amendments of the Listing Rules to help emerging and innovative sector companies list in Hong Kong.

Noting that Hong Kong possesses advantages in scientific research and innovative technology, Ms Lam expressed the hope that with support in areas such as resources, nurturing of talent and working space, as well as complementarity with other cities in the Guangdong-Hong Kong-Macao Bay Area, the transformation of scientific and technological achievements will be enhanced.

She also encouraged and welcomed talents from around the world to develop their careers in Hong Kong.

After the dialogue session with the moderator, Ms Lam toured the various booths that were set up at the RISE conference. The products and services on display were designed with a combination of technology and creativity. Innovative and novel products included a social e-commerce platform in which users can upload photos of clothes to find out where they can be bought. In addition, there was a 3D body measurement scanning device to help consumers buy well-fitting clothes as well as a customised T-shirt service on display.

Currently, RISE is the largest technology conference in Asia. It will be held from 9 to 12 July at the Hong Kong Convention and Exhibition Centre this year. The conference will attract approximately 15,000 representatives from more than 100 countries and regions to take part. Attendees will include entrepreneurs, investors and start-up representatives all interested in growing and developing their businesses through the new and innovative technological revolutions currently occurring in Hong Kong.

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