Edward Yau: Promoting high-quality development in Hong Kong through mutual promotion of "AI+" and "finance+"

The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan Mo-po, stated in a blog post on the 1st that the new financial budget proposed by the SAR government focuses on two main areas, "AI+" and "Finance+," with the goal of taking Hong Kong's high-quality development to a higher level during the process of economic transformation. Chan Mo-po mentioned that in the "AI+" area, Hong Kong is implementing a comprehensive strategy. He will establish and chair the "AI+ and Industrial Development Strategy Committee," bringing together experts, scholars, and business representatives to formulate strategies for the accelerated development of various industries driven by AI, aiming to become a catalyst for driving industrial innovation. Hong Kong is pushing forward the development of several industrial parks in the Northern Metropolis Area and accelerating the construction of computing power infrastructure in the Sha Ling Data Park. These efforts will support the research and application of cutting-edge technologies such as AI and life sciences, as well as provide development space for high-end manufacturing industries. He also mentioned that one of the measures in the new financial budget is to invest HK$50 million to support public institutions, science and technology enterprises, and universities in organizing activities to promote the widespread learning, usage, and practical use of AI, enhancing the overall AI literacy of society. In terms of "Finance+," Chan Mo-po stated that finance provides solid support for technological innovation and the development of the real economy. The innovation of financial services itself further supports the expansion of the real economy and overcomes pain points. With AI combining with industrial transformation and upgrading, and deep integration with finance, there will be an accelerated emergence of a series of new professional service demands in the market. Chan Mo-po noted that it can be foreseen that Hong Kong will need more enterprises that understand how to use AI, as well as financial and professional services that understand AI and innovative technology. This will enrich Hong Kong's role as an international financial center and further contribute to the development of the national modern industrial system through the integration of finance, technology innovation, and industrial innovation. Making good use of Hong Kong's own advantages in accordance with local conditions and actively aligning with national development strategies is the only way for Hong Kong to achieve better development.