CE calls for free trade commitment | HK’s key roles in China’s economic reforms | Innovation and Techonology


CE calls for free trade commitment

Chief Executive Carrie Lam has urged government and business leaders to re-affirm commitment to free trade, which is key to realizing the potentials and benefits of the Fourth Industrial Revolution. Speaking at a forum at the first China International Import Expo in Shanghai (Nov 5), Mrs Lam said innovation was critical in growing trade and the government has been investing US$10 billion in a multi-pronged strategy to drive I&T.

HK’s key roles in China’s economic reforms

Secretary for Commerce and Economic Development Edward Yau has highlighted three historic moments which made Hong Kong a gateway for Mainland China’s imports and exports: when the country opened up its economy in 1978, when she joined the World Trade Organisation in 2001 and when the Belt and Road Initiative and the Greater Bay Area took off in 2013 and 2017 respectively. Mr Yau made the remarks at a seminar titled “Hong Kong’s Experiences for International Trade: New Horizon·New Technology·New Model”, at the first China International Import Expo.



More startups choose HK

Hong Kong’s entrepreneurial eco-system, backed by the city’s unique strengths and ease of doing business, has seen a continuous uptick in the number of startups in recent years. There are over 2,000 tech startups, 30% of them started by non-Hong Kongers, said Secretary for Innovation & Technology Nicholas Yang at the Cyberport Venture Capital Forum (Nov 8). The city is also seeing more unicorn successes. Home-grown online travel agency Klook received US$200 million in its latest Series D funding. The company, which will hit US$1 billion bookings this year, plans to expand to the US and European markets.

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