Hong Kong SAR Government Prioritizes Digitalization for High-Quality Development

02/22/2023 04:05 • Tech Trends • 97 views

It is reported that on February 22, the Secretary for Finance of the Hong Kong Special Administrative Region Government, Chen Maobo, said that digitalization plays a key role in achieving high-quality development when he published the 2023-2024 fiscal budget of the Hong Kong Special Administrative Region Government. In order to accelerate the process of promoting Hong Kong’s digital economy, the Digital Economy Development Committee is conducting in-depth research on four major areas, including exploring the digital infrastructure needed to promote the development of the digital economy, convenient and safe cross-border data flow, corporate digital transformation, and human resources allocation. In terms of digital infrastructure, the SAR government will conduct a feasibility study on the establishment of an AI supercomputing center and complete it in 2023/2024.

Hong Kong will study and establish an AI supercomputing center

Analysis based on this information:

On February 22, 2023, the Secretary for Finance of the Hong Kong Special Administrative Region Government, Chen Maobo, emphasized the crucial role that digitalization plays in achieving high-quality development while publishing the 2023-2024 fiscal budget for the SAR Government. To expedite the promotion of Hong Kong’s digital economy, the Digital Economy Development Committee is conducting extensive research on four crucial areas to improve the digital infrastructure required to stimulate the development of a digital economy, secure cross-border data flow, encourage enterprise digital transformation, and allocate human resources appropriately.

In terms of digital infrastructure, the SAR government will initiate a feasibility study to establish an AI supercomputing center, and the said study will be completed by 2023/2024. This move indicates that the Hong Kong SAR government recognizes the potential of advanced technologies such as artificial intelligence in digital transformation, an imperative step for economic growth and development.

The establishment of an AI supercomputing center in Hong Kong can bring numerous economic benefits, such as driving further innovation initiatives and IT development, attracting new foreign investments from around the world, and boosting the creation of entrepreneurial knowledge-intensive startups. Furthermore, the AI supercomputing center can contribute to the implementation of smart city and smart business initiatives, which may further attract tech startups and established businesses to Hong Kong, share knowledge experience and attract expertise.

In conclusion, prioritizing digitalization is a focal point of the Hong Kong SAR government to achieve high-quality economic growth and development, and it is clear that they understand that digital infrastructure investment is essential to success. The initiative to establish an AI supercomputing center will significantly accelerate the promotion of the city’s digital economy and attract more investments, talent and innovative initiatives in the coming years. We hope to see the implementation of this proposal, which can result in opportunities for the local community and scalable business growth, in the near future.

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Hong Kong SAR Government Prioritizes Digitalization for High-Quality Development

Hong Kong will study and establish an AI supercomputing center

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