The world welcomes the arrival of 2024 with measured optimism, after 2023 dampened hopes for a rapid recovery. 

Hong Kong is poised to achieve full-fledged economic growth in 2024 and thrive as a beacon of inspiration, having made remarkable progress toward becoming an international innovation and technology (I&T) center, and with the city’s unique advantages under “one country, two systems” further strengthened. 

Chief Executive John Lee Ka-chiu’s earnest words in an article On Dec 31 capture the shared optimism for Hong Kong to scale new heights, and outlined the key objectives, saying 2024 will be a year of laser-focused efforts to turbocharge the economy, accelerate development, and improve people’s living standards. 

Underpinning these objectives are the central government’s unwavering support of and high expectations for Hong Kong, the chief executive’s commitment to a results-oriented governance philosophy which will lead Hong Kong toward greater prosperity, and the ingenuity of the city’s residents. Hong Kong will recapture the world’s imagination as an international I&T center and a smart city, championing sustainable development. 

Hong Kong’s booming I&T industry will play a central part in making visions become reality. I&T has proved to be a driving force with disruptive power for the world economy. Throughout 2023, I&T buzzwords such as “generative AI” and “deepfake” occupied headlines, unfolding profound real-world implications. 

Hong Kong’s I&T industry stands ready to unleash its power to increase productivity and spur rapid economic growth. The Hong Kong I&T Development Blueprint has begun to bear fruit. Forward-looking plans are in place, creating synergy between the central government’s supportive policies and the city’s unique advantages and proactive mindset. There have been tremendous enhancements to I&T infrastructure, coupled with an influx of top-notch enterprises and international talent in research and development, and strong enthusiasm from local universities and schools to foster young people’s interest in I&T. 

As a key member of Hong Kong’s I&T ecosystem, the Hong Kong Productivity Council (HKPC) is dedicated to addressing industry pain points; it also acts in concert with the Hong Kong Special Administrative Region government to promote I&T and new industrialization in Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). 

I am proud to share the news that the HKPC won a record-breaking 103 awards and recognitions in 2023, mostly in the I&T field, including at the prestigious 2023 Geneva International Inventions Exhibition, as well as Edison Awards and TechConnect 2023 Innovation Awards. Remarkably, new industrialization-related projects won 33 awards. 

Nearly 80 percent of the award-winning I&T projects have already been commercialized, making it easier for enterprises in emerging strategic industries to gain access to advanced technology, FutureSkills training, and government funding opportunities.

These accolades corroborate the HKPC’s extensive expertise and world-leading capabilities as one of Hong Kong’s biggest and most accomplished research institutes in applied research and development. I am particularly pleased to see the HKPC’s young engineers shine in numerous international competitions. 

It gives us confidence and a deep sense of responsibility to do our utmost to contribute to Hong Kong’s advancement.

The HKPC works closely with industry partners and facilitates businesses in Hong Kong, the Chinese mainland and other regions to upgrade and transform. By using advanced manufacturing technology, coupled with AI, smart manufacturing and digitalization, the HKPC builds tailor-made new industrialization solutions for industries to reduce costs and boost efficiency. 

In the area of smart manufacturing, the HKPC has optimized the performance of production lines through the industrial metaverse, built Hong Kong’s first tunnel inspection system based on drone and onboard AI processing technologies, and upgraded the structural inspection of tunnels to an intelligent and data-driven system. The HKPC has also jointly developed an intelligent packaging system for diversified pharmaceutical products, helping the traditional Chinese medicine industry transition toward intelligent manufacturing. 

I am equally proud to highlight some of the HKPC’s upcoming initiatives. On Jan 8 the HKPC launched “Hong Kong Got Industries”, a campaign that will run throughout the year, with support from and in close collaboration with the government, industry, research institutes, universities and schools. The campaign emphasizes that Hong Kong has a bright future in I&T and new industrialization both in the city and in the GBA. 

The campaign will also help drum up interest from home and abroad about Hong Kong’s potential in I&T and new industrialization, and give voice to the countless unsung heroes and inspirational stories about the enterprises, entrepreneurs, investors, engineers, factory workers and other key players indispensable in pumping vitality into Hong Kong’s economy. 

The HKPC will also launch an annual flagship study on a strategic industry in Hong Kong in 2024, to support the government in leveraging the city’s strengths in finance, logistics and trade to drive innovation and investment in the sector, and help enterprises seize opportunities.

The HKPC has released one weighty industry study each year for the past three years, presenting actionable insights, timely policy recommendations, and the opportunities and challenges facing reindustrialization in the life and health industry and the AI industry in Hong Kong. These studies have provided important references to Hong Kong’s emerging industries for government authorities, industry players, investors, researchers, teachers, students, media, and job seekers.  

Young people are always close to our hearts. In 2024, the HKPC will continue providing a variety of interesting programs for future generations of I&T talent of different ages, backgrounds and fields of interest. Currently, 31 university students are attending the HKPC’s winter internship program. Selected from about 800 applicants, most of the interns are majors in STEM subjects (science, technology, engineering, and math) at renowned universities in Hong Kong, the Chinese mainland and abroad. 

The HKPC creates a safe and encouraging environment for interns to learn and make the most of their internship. From day one, they are HKPC colleagues, joining teams from different divisions to work on projects. There are field visits to leading I&T institutions and enterprises, and other activities to give them all-round exposure and challenges to put what they learned into practice. 

Other popular programs include the HKPC’s annual summer internship, Summer TechEd Fest 2024 and training courses for young people with six major themes: aerospace technology, cybersecurity, green and biotechnology, robotics engineering, smart city, and virtual world technology. 

In 2024, Hong Kong’s full-fledged economic growth is within sight, and the city will make great strides to become a bustling international I&T center. The HKPC will remain steadfast as a core enabler of new industrialization in Hong Kong and the GBA, support industries to embrace intelligent, high-tech and green transformation, promote the application of I&T in various aspects of daily life to improve people’s living standards, and contribute to Hong Kong’s better integration into national development. 

The author is chairman of the Hong Kong Productivity Council.

The views do not necessarily reflect those of China Daily.