Internet Economy Summit 2017 ends in Hong Kong

Updated 2017-04-13 10:30:56 Xinhua

The Internet Economy Summit 2017 was wrapped up in Hong Kong on Wednesday. The three-day summit consisted four forums covering FinTech, big data, smart city and E-commerce.

Organized by the Hong Kong government, the Internet Economy Summit provided a platform for renowned information and communications technology experts and leaders of innovative technology enterprises across the world to interact and share insights.

Hong Kong Chief Executive Leung Chun-ying attended the summit and delivered the keynote speech. He said, the Internet economy is expected to grow at 8 percent annually for developed economies, and 16 percent for developing ones.

So this year's Internet Economy Summit is very much welcomed. It underlines Hong Kong's commitment to technology and innovation.

Leung said, in order to advance Hong Kong's internet economy, the Hong Kong government would launch 2 billion Hong Kong dollars (about 258 million U.S. dollars) Innovation and Technology Venture Fund and 500 million Hong Kong dollars (about 64.34 million U.S. dollars) Innovation and Technology Fund for Better Living in mid-year.

The Hong Kong government will also consider offering enhanced tax deductions for I&T expenditure, encourage overseas I&T enterprises to set up business here, invest more in university R&D, develop a Smart City blueprint, and promote the use of data analytics and technology solutions in business.

Leung also said a new trans-Pacific cable between Hong Kong and Los Angeles would be completed next year. This cable would come with enough capacity for Hong Kong to run 80 million simultaneous high-definition video calls with Los Angeles.

"I would say that puts us in a good position to become Asia's data hub. As a matter of fact, many global data center providers already, or have plans to, set up cloud computing facilities here," he said.

Deputy Director of Cyberspace Administration of China Zhuang Rongwen said Hong Kong is part of China and at the same time an international city with a separate social and economic system. Hong Kong can serve as a "super-connector" linking the Chinese mainland and the rest of the world.

To gain more fruitful results, Zhuang suggested that the Chinese mainland and Hong Kong to enhance collaboration in big data and cloud computing and seize the opportunities in "Internet ".

Hong Kong's Secretary for Innovation and Technology Nicholas Yang said Hong Kong is well positioned to embrace innovation and technology to make the city smarter, more efficient and more comfortable.

Hong Kong have achieved a great deal in innovation that would make other cities envious. Hong Kong's world-class ICT infrastructure and well-established and robust legal framework facilitate the free flows of talent, capital and knowledge.

Apart from government officials, the summit also drew together experts and leaders from firms in the East and the West including Ant Financial Services Group,Tencent, Cogobuy Group & IngDan, TNG Wallet and etc.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 20 2017 12:12:08

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 20 2017 12:12:08

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 20 2017 12:12:08

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords