Hong Kong's Secretary for Innovation & Technology Nicholas Yang said on Tuesday that the newly-established Innovation & Technology Bureau will pave the way for Hong Kong's transformation to a knowledge-based economy.
Speaking at the opening of the Hong Kong International Computer Conference 2015, Yang said the bureau, established on Nov. 20, will provide stronger and more focused policy coordination together with the understanding and support of Hong Kong people to capture the opportunities from the digital economy, leveraging on the rapidly evolving innovation and technology environment.
The digital economy permeates the world in the form of e-commerce, e-learning, smart devices, social media platforms and so on, Yang said, adding today's Internet-driven global economy is powered by innovation and technology. Innovation and technology can bring economic growth and employment opportunities, and can also improve people's quality of living and help on social development, he said.
He said that Hong Kong certainly stands out in today's global digital economy. "We have been ranked first in technological infrastructure globally by the World Competitiveness Yearbook for five consecutive years. In terms of innovation, Hong Kong ranks second in Asia-Pacific and 11th in the world in the Global Innovation Index 2015."
Yang said Hong Kong is a great place for innovation in today's digital economy all in all. As an information and communications technology (ICT) hub, Hong Kong has high broadband and mobile penetration rates that top the world. Hong Kong's intellectual property rights are protected by the Copyright Ordinance.
Hong Kong's Personal Data (Privacy) Ordinance ensures the protection of personal data during collection, usage and transfer. The Electronic Transactions Ordinance provides a robust framework for conducting secure e-business, he added.
