The construction of “Digital China” is specifically highlighted in the“14th Five-year” Plan. On the other hand, strengthening the cooperation in innovation and new technology is also proposed under the Framework Agreement on Deepening Guangdong-Hong Kong-Macao Cooperation in the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area). Hong Kong and Guangdong authorities have already planned to work together to fortify the innovative development of a digital economy in the region and to further expand the scope of partnership.
Alfred Sit: Greater Bay Area Effect Combines with National Policy Support to Boost Hong Kong as an International I&T Hub
Alfred Sit, Secretary for Innovation and Technology, believes that with the support of national policies, Hong Kong is set to become a competitive international innovation and technology (I&T) hub and further capture new I&T development opportunities to make greater contributions to achieving the goal of “Digital China”.
In Sit’s view, Hong Kong must establish a clear position in the field of I&T and it is particularly important to examine the entire I&T value chain: From the application level to the subsequent marketing and intellectual property protection, and further to driving brilliantly performing companies to transform into “unicorn” status and go for IPO listing, it is essential to determine where Hong Kong’s strengths lie.
Consolidate strengths in value chain to continuously attract talents
“Hong Kong has five universities ranked among the world’s top 100, bearing witness to their strong scientific research capabilities.” Sit elaborated that as Hong Kong also has competitive strengths in professional services such as legal services, it should work with the other cities in the Greater Bay Area to commercialize basic scientific research results in order to support the country’s goal of achieving self-reliance and self-improvement in science and technology.
Sit said that Hong Kong’s strengths are very advantageous for attracting I&T companies and talents. “The HKSAR Government has put in place several schemes to attract talents, such as InnoHK which has so far attracted 28 joint research laboratories to set up in Hong Kong, showing outstanding results in improving Hong Kong’s I&T value chain.”
Focus on smart production and development of advanced cutting-edge technologies
Although Hong Kong’s industrial development is limited by its scarce land and dense population, it can turn crisis into opportunity given the trend of I&T development. Sit stressed that Hong Kong should focus on smart production or high-value-added industries such as medicine and other life- and health-related industries which, in conjunction with cooperation with other Greater Bay Area cities such as Shenzhen and Guangzhou that excel in the field of scientific research, will help attract more I&T companies to Hong Kong.
“The authorities altered Hong Kong’s listing regime in 2018 to allow pre-revenue or pre-profit biotech companies that pioneer forward-looking, advanced cutting-edge technologies to get IPO listed in Hong Kong, helping it become a go-to place to seek funding for advanced cutting-edge technologies.” Sit added that Hong Kong’s status as Asia’s largest and the world’s second largest biotech fundraising hub, which it attained in just three short years, coupled with its listing rules on weighted voting right structure, have made its entire financial system more vigorous and can support the development of advanced cutting-edge technologies.
I&T gradually showing results as infrastructure near completion
Sit said that the current-term Government has invested over HKD130 billion in the field of I&T so far. “Backed by government support and industry collaboration, Hong Kong’s I&T development has achieved some results in the past few years.”
Sit stressed that the HKSAR Government has devoted much resources to developing infrastructure, which is another key to I&T development. For example, the Advanced Manufacturing Centre located in Tseung Kwan O, which will be officially opened in the middle of next year, is set to attract high-tech companies to move to its premises and start production immediately. In addition, the Microelectronics Centre in Yuen Long will finish construction in 2023, while the Hong Kong Science Park and the Cyberport will complete expansion in 2024 and 2025, giving greater impetus to the creation of a thriving I&T ecology.
Strengthen interconnection for co-construction of Greater Bay Area’s Silicon Valley
Sit said that Shenzhen is stronger than Hong Kong in commercialization of applied scientific research results, while Dongguan and Guangzhou have an edge in advanced manufacturing and mass production capabilities, and since the Lok Ma Chau Loop and Shenzhen Innovation and Technology Zone are only separated by a river, it is easier to achieve interconnection, which will be a core area for priority development in the coming years.
Sit is pleased to see the latest Policy Address showing a clear commitment and engagement in I&T, and especially mentioned the San Tin Technopole when describing the Northern Metropolis. He is convinced that the new I&T landmark will bring together more talents at home and abroad. “We are confident that this Shenzhen-Hong Kong I&T cooperation zone will become the Silicon Valley of the Greater Bay Area in the next 10 to 15 years.”
Harry Shum: Capitalizing on the Collaborative Advantage of Shenzhen and Hong Kong to Construct a Synergized Greater Bay Area Innovation Ecosystem
Speaking of the International Digital Economy Academy (IDEA) founded last year in Shenzhen, Harry Shum, the Academy’s Chairman, highlighted the entrepreneur’s DNA shared by Shenzhen and IDEA. He wished to ride on the collaborative advantage of Shenzhen and Hong Kong, such that global top talents would converge here to forge an industry chain for technology research, thus taking the Greater Bay Area’s digital economy development to new heights.
Shum founded IDEA in Shenzhen last year in response to the Country’s call. He explained that IDEA is an international innovation-driven research institute that focuses on artificial intelligence (AI), digital economy and cutting-edge technologies. As the name suggests, IDEA envisions to gather like-minded persons with disruptive ideas to solve problems. “I believe that the lower-level digitization, as characterized by the internet and digital information, should be stepped up and transformed into higher-level digitization, which is represented by artificial intelligence and smart innovation.”
Expanding open source to align with international platforms
Looking back at the rapid technology development in the Mainland over the past 40 years, Shum reckoned it was inseparable from the internet and open source. The former allowed Chinese nationals to receive the latest news of the world, while the latter enabled technology researchers to gain broader visions riding on the success of their predecessors. “AI in China has advanced by leaps and bounds during the last decade, and is now at the forefront in the disciplines of computer vision algorithms and systems, smart interactive conversations, etc. Many original AI technologies are also developed.”
Shum believes that Chinese engineers and scientists must grow from copying codes to contributing codes. They must lead the change in coding projects and make a stronger contribution to open source with tools. Platform construction must also be aligned with international ones.
Focusing on cognitive intelligence development and cultivation of research talents
As for AI and digital economy, Shum added that although sensing intelligence is becoming more mature, there is still a long way to reach the status of real intelligence. In particular, cognitive intelligence is a weak link at present and a key to the next stage of development for artificial intelligence.
Talent cultivation has always been the key to technology research and development. Shum said that since the reform and opening-up of China, the population dividend has been fully enjoyed in the manufacturing industry. During this period, the number of university students in the Mainland has continued to grow. Future development must pave way for cultivating research talents for China. “Students must be encouraged to grow and become research talents. We must train their communication, collaboration and leadership, such that an even brighter next generation of artificial intelligence researchers can be groomed.”
Cooperating with Hong Kong universities to facilitate technology development in Greater Bay Area
At the same time, IDEA also signed a strategic cooperation framework agreement with the Hong Kong University of Science and Technology (Guangzhou) (HKUST (GZ)), under which the two parties will focus on synergizing on innovating in frontier disciplines, and then embark on in-depth strategic cooperation in the areas of talent recruitment, student cultivation, project collaboration, and sharing of technology resources.
Shum commented that the signing of this cooperation agreement is a fine example of collaboration amongst Guangzhou, Shenzhen and Hong Kong. IDEA will put the multidisciplinary industrial forte into full play, as well as establish a competitive edge with a team of global leading talents to engage in practical cooperation with HKUST (GZ) in all directions. The two sides could share their technology research resources, co-develop excellent talents, co-create technology outcomes, and bring talented individuals, technologies, and increased industrial output to the Greater Bay Area. It is hoped that such collaboration could further promote technology development and industrial upgrading in the Greater Bay Area.
