Hong Kong Productivity Council sign strategic cooperation memorandum with Shenzhen Institute of Advanced Technology to deepen data exchange between Shenzhen and Hong Kong.

On November 14, the Hong Kong Productivity Council (HKPC) and the Shenzhen Data Exchange (SZSE) signed a strategic cooperation memorandum at the 2024 China (Shenzhen) Data Industry Innovation Conference. In order to deepen data exchange between Shenzhen and Hong Kong, the two sides will collaborate on five major areas, including promoting data connectivity between Shenzhen and Hong Kong, developing data element markets, empowering small and medium-sized enterprises to upgrade and transform through data assetization, jointly building a data ecosystem between Shenzhen and Hong Kong, and exploring initiatives to promote the digital economy. The HKPC stated that the purpose of this cooperation with SZSE is to promote the cross-border flow of personal information data in the Guangdong-Hong Kong-Macao Greater Bay Area, cultivate data service markets, unlock new opportunities for data transactions between Shenzhen and Hong Kong, and promote the integration of the digital economy and development within the Greater Bay Area. Data is an important foundation for developing new quality productivity. Hong Kong's Policy Address this year emphasizes that strengthening the system to promote the integration of the real economy and the digital economy is one of the key points of new quality productivity. It aims to accelerate the development of the digital economy by speeding up industrial digital transformation, enhancing digital infrastructure construction, studying initiatives to promote the data trading ecosystem, and exploring arrangements to facilitate cross-border data flow, using the Greater Bay Area as a pilot. Lin Zhi Jun, Chief Operating Officer of HKPC, expressed her delight in reaching a cooperation agreement with SZSE to jointly establish a solid foundation, leverage complementary advantages and promote coordinated development, and work together to build a data ecosystem. She believes that this cooperation can leverage the role of HKPC as a super value-added person to assist in improving the overall efficiency of cross-border data usage. They will engage with government departments, data service providers, SMEs, and stakeholders, and combine the important position and experience of SZSE in data trading and developing data element markets to prepare for seminars and workshops for SMEs and stakeholders, in order to help build a solid data ecosystem in Hong Kong.