Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Saturday, Jul 27, 2024

Hong Kong needs new ideas to successfully develop innovation and tech

Hong Kong needs new ideas to successfully develop innovation and tech

Hong Kong’s need to diversify its economy has long been known, but efforts to develop innovation and technology have had mixed success. The tired old formula fails to take into account how the digital economy has reformed traditional business models. It’s time for officials to embrace change.

Director of the Hong Kong and Macau Affairs Office Xia Baolong’s unprecedented six-day visit to the city might have been at short notice, but it has been well planned.

Before touching down last Thursday, Xia made it clear that “investigations and studies” on both Hong Kong and Macau “should be greatly enhanced”. The purpose of the visit is clear: “examine problems in an in-depth research manner. Focus on rectification and implementation. Strengthen organisational leadership and consolidate leadership.”

This fact-finding and problem-solving trip is probably the first of more to come. Conducting this surprise inspection personally, it is evident that Xia is here to get to the bottom of some of the city’s most pressing long-standing problems.

As Xia arrived in our city, Chief Executive John Lee Ka-chiu reiterated a message that has been pounded in our minds for the past few months. Hong Kong is entering the next phase of economic development, pursuing high-quality growth by developing innovation and technology.

Last month, former chief executive Leung Chun-ying – a vice-chairman of the country’s top political advisory body – urged the innovation and technology sector to play their part in “aligning Hong Kong with the national digital economy strategy to explore a new development direction for the financial hub”.

It makes perfect sense that innovation and technology is on Xia’s list. Even more important is that we need to fit into the national plan.

Director of the Hong Kong and Macau Affairs Office Xia Baolong waves as he arrives in Hong Kong, accompanied by Chief Secretary Eric Chan Kwok-ki, on April 13.


The fact is that we’ve been talking about diversifying our economy since the days of Tung Chee-hwa, our first chief executive. All the recent talk of tech, innovation and the release of the Hong Kong Innovation and Technology Development Blueprint last December are nothing new.

A lot of public money and resources have gone into promoting innovation and technology over the past two decades, and it hasn’t been smooth sailing at all. The controversial Cyberport project was awarded, without an open tender, to the Pacific Century Group and became a huge luxury residential project. It took decades for Cyberport to slowly shed some of its negative image as an iconic white elephant and the epitome of government-business collusion.

The Hong Kong Productivity Council, also for a long time a part of the government’s IT push, had been accused of not being productive enough by the Audit Commission. We also have the Hong Kong Science and Technology Parks Corporation (HKSTP), which has received a large amount of expensive real estate. It operates and manages the Science Park, InnoCentre, industrial estates and the Hong Kong-Shenzhen Innovation and Technology Park.

It has courted controversy, including concerns over an exodus of staff, vacant space, a failure to attract talent, and being held accountable on its criteria for handing out funds.

Financial Secretary Paul Chan Mo-po (right) tours InnoCarnival 2022 at the Hong Kong Science Park on October 22, 2022.


Also consider HKSTP’s legal problems. It was embroiled in controversy as a landlord after one of its tenants, Apple Daily, violated the terms of its lease, which specified the use of the premises was limited to printing and publishing newspapers or magazines.

A local data centre, Sunevision, meanwhile, won a judicial review against the corporation after the latter again failed to enforce its lease restrictions. Essentially, the HKSTP awarded data-centre providers space, at a steeply discounted price, that was then sublet for profit.

According to the Innovation and Technology Development Blueprint, the government is planning to carve out more land for data centres. But granting subsidised land to multinational data-centre operators, which may then sublet space for profit at the public’s expense, doesn’t sound much like aligning with the national plan.

Before he became a member of the current Legislative Council, Professor William Wong Kam-fai had called on the government to set up committees to monitor the work of the HKSTP in response to the 2018-19 budget. Oversight is crucial in making sure public bodies do what the government has tasked them to do.

The government’s old formula of throwing land and money at public bodies without adequate oversight and accountability isn’t very innovative. And it is the disruption and transformation brought on by technology that demands change. Lee himself has spoken about how the digital economy has reformed traditional business models.

But behemoths such as the HKSTP can be the most resistant to change. Xia’s trip to “examine problems” and “focus on rectification and implementation” means change is imminent. That’s something the Innovation, Technology and Industry Bureau must acknowledge. Pouring new wine into old wineskins won’t do.

Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×