Published: 09:55, February 25, 2023 | Updated: 18:07, February 25, 2023
Officials: Budget promotes HK's I&T and financial development
By Zhang Tianyuan

This photo shows Hong Kong Secretary for Innovation, Technology and Industry Sun Dong (center) and other officials attending a news conference on the 2023-24 Budget on Feb 24, 2023. (PHOTO COURTESY OF HKSAR GOVERNMENT)

Secretaries of Hong Kong Special Administrative Region government departments said on Friday that the measures in the 2023-24 Budget announced this week will pave the way for the city to develop into a global innovation and technology hub and help consolidate its status as an international financial center.

Hong Kong Secretary for Innovation, Technology and Industry Sun Dong highlighted at a news conference the significance of the planned development of an artificial intelligence supercomputing center to position the city as a global innovation and technology hub.

In the 2023-24 Budget, the government laid out its plan to conduct a feasibility study on developing an AI supercomputing center

Sun said, “Setting up an AI supercomputing center is necessary if Hong Kong wants to punch above its weight to be an international innovation hub and play a leading role in the digital economy.”

READ MORE: HK’s economy eyes visible rebound in 2023

In the 2023-24 Budget, the government laid out its plan to conduct a feasibility study on developing an AI supercomputing center as part of efforts to expand the city’s digital economy.

Sun said AI and data science are key development areas for Hong Kong, and the city must keep pace with the world’s technological trends, as surrounding areas such as Shenzhen and Zhuhai have already established AI centers.

He said a public consultation will commence in the second quarter of 2023 regarding the development plan and land layout for the San Tin Technopole, a cluster for high tech and information-based companies.

Christopher Hui Ching-yu

“The first three buildings of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop are scheduled to be completed at the end of next year, which will help attract overseas companies to set up operations in Hong Kong,” he added.

At another news conference on Friday, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said it is a clear goal of the government to attract more family offices, and performance indicators have been established to track the progress.

READ MORE: Chan: HK to balance economic revival, sustainability in budget

The budget revealed plans for a HK$100 million ($12.7 million) fund program and profits tax exemption, in a bid to boost investment opportunities for family offices. 

The Financial Services and the Treasury Bureau has set up a steering group to oversee relevant events, including the “Wealth for Good in Hong Kong” summit to be held at the end of March, as well as providing training for wealth management talent


tianyuanzhang@chinadailyhk.com