Paul Chan Mo-po: HKSAR Government Comprehensively Drives AI Implementation and Widespread Adoption

TechFlow reports that on August 23, Hong Kong SAR Financial Secretary Paul Chan stated in a blog post that the artificial intelligence (AI) boom is providing strong momentum to Hong Kong's economy and consumer market. The SAR government is comprehensively promoting the implementation and widespread adoption of AI across various sectors. Chan noted that AI development has significantly boosted Hong Kong's economy and financial markets. Benefiting from strong global demand for AI-related products, Hong Kong's exports have registered high double-digit growth for several consecutive quarters.

In the capital market, between December last year and May this year, AI-related IPO fundraising in Hong Kong totaled nearly HK$100 billion, representing about 55% of the aggregate during the same period. The Hang Seng Index provider has recently incorporated multiple AI-related companies into its indices, highlighting their increasingly important economic footprint.

Studies further estimate that if Hong Kong's small and medium-sized enterprises can match large enterprises in AI adoption rates by 2035, it could unlock economic benefits worth up to HK$65 billion. The SAR government is also integrating AI more deeply into its operations, with the AI Efficiency Enhancement Task Force having facilitated an initial batch of 30 productivity improvement projects across 13 government departments. (Xinhua)