As the United States and China deepen their tech race, Hong Kong has been caught in the crossfire.
HONG KONG: Technology companies in Hong Kong have called for more financial support to get start-ups in the industry off the ground,is expected to lay out clearer plans for tech and innovation development when he delivers his second annual policy blueprint on Wednesday .The government has set up a HK$5 billion Strategic Tech Fund, with another HK$3 billion earmarked in this year’s budget plan to enhance basic exploration in frontier fields such as artificial intelligence and quantum technology.
“But in Asia, there are more regulated policies,” he added. “Every step of this technological movement has been thought through quite carefully before we grant permission.” “For mainland companies like Tencent or Alibaba, they have their own development centre in mainland China,” he added. “Corporations have started placing their tech people across the region," he noted."They don't want to put everyone in the same city. Usually, it will be a mix of Hong Kong and Singapore. And it will be combined with another location, such as Tokyo, China, Kuala Lumpur or Manila.”Industry players believe tapping on the Greater Bay Area's resources can bolster Hong Kong's own tech ambitions.
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