CHEN MOEBO: THE HKSAR GOVERNMENT PROMOTES ALL ASPECTS OF AI LANDING AND UNIVERSAL APPLICATION

ON 23 AUGUST, THE DIRECTOR GENERAL OF FINANCE OF THE HKSAR GOVERNMENT, CHEN MOBO, PUBLISHED A POST ON THE INTERNET STATING THAT THE ARTIFICIAL INTELLIGENCE (AI) BOOM WAS GIVING A STRONG BOOST TO THE HONG KONG ECONOMY AND CONSUMER MARKET. THE HKSAR GOVERNMENT IS PROMOTING ALL ASPECTS OF AI'S ACCESS TO LAND AND USE IN ALL AREAS. ACCORDING TO CHEN, THE DEVELOPMENT OF AI HAS CONTRIBUTED SIGNIFICANTLY TO HONG KONG ' S ECONOMY AND FINANCIAL MARKETS. THANKS TO STRONG GLOBAL DEMAND FOR AI-RELATED PRODUCTS, HONG KONG ' S EXPORTS RECORDED HIGH DOUBLE-DIGIT GROWTH OVER THE YEARS. IN THE CAPITAL MARKET, BETWEEN DECEMBER AND MAY OF THIS YEAR, NEW AI-RELATED STOCKS IN HONG KONG ACCOUNTED FOR NEARLY HK$ 100 BILLION, OR ABOUT 55 PER CENT OF THE TOTAL FOR THE SAME PERIOD. INSISTENCE SUGGESTS THAT COMPANIES HAVE ALSO RECENTLY INCLUDED SEVERAL AI-RELATED COMPANIES IN THE INDEX, REFLECTING THEIR GROWING IMPORTANCE IN THE ECONOMY. THE STUDY FURTHER SUGGESTS THAT IF HONG KONG SMES CATCH UP WITH LARGE FIRMS IN 2035, THEY COULD RELEASE UP TO $65 BILLION IN ECONOMIC BENEFITS FOR HONG KONG. THE HKSAR GOVERNMENT IS ALSO OPERATING IN GREATER DEPTH WITH AI EMPOWERMENT, AND THE AI EFFICIENCY ENHANCEMENT TEAM HAS LED TO THE FIRST 30 EFFICIENCY ENHANCEMENT PROJECTS INVOLVING 13 SECTORS. XINHUA