BEIJING: As artificial intelligence rapidly transforms the global economic landscape, Hong Kong must and is ready to harness technological innovation to fuel its growth, Financial Secretary Paul Chan Mo-po said in the Sunday blog.
His remarks come on the heels of the 2025-26 Budget in which he placed great emphasis on the advancement of innovation and technology, and outlined various support measures to develop AI as a “core industry”.
Under “one country, two systems”, the Hong Kong Special Administrative Region has the distinctive advantages of enjoying the motherland’s strong support and being closely connected to the world, Chan said.
This allows for a rich flow of data from both domestic and international sources. With five universities ranked among the top 100 globally, the SAR has strong foundational research capabilities.
“All these advantages have enabled Hong Kong to further promote AI research and applications, and establish itself as a hub for international collaboration in the AI industry," Chan said.
In developing talent, the finance chief said plans are underway to get international tech giants in Hong Kong and more than 100 local firms and startups to channel top-tier resources into primary and secondary schools.
The plan has garnered enthusiastic backing from leading tech players like Tencent, Alibaba, Lenovo and SenseTime, he said.
Moreover, the city’s sovereign wealth fund Hong Kong Investment Corp and technology incubators Hong Kong Science Park and Cyberport will coordinate in getting a large number of tech startups to participate.
The initiative will include various forms of exchanges and field visits to enable students to “see and touch” the applications of AI technologies.
“The curiosity and interest of young people in technology theories and applications will serve as their biggest driving force for learning and adapting to innovation,” Chan said.
To bolster the AI ecosystem, Hong Kong Investment Corp will host the first International Conference on Embodied AI Robot, showcasing cutting-edge products from leading robotics firms.
The event will also foster discussions among industry leaders, academia and investors on embodied AI which Chan said is seen as a crucial area in the AI sector.
Amid changes in the international landscape, Chan said “cultivating AI as a core industry could help Hong Kong break free from traditional development models and frameworks”, adding such a new economic engine will bring economic benefits to Hong Kong and create more job opportunities.
The development of innovation and technology, including AI, will help diversify the city’s economic structure and industries, and take them to a higher level, he said. - China Daily/ANN
