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the wave of artificial intelligence is sweeping in, and computing power and data have become the foundation and engine for promoting the application of artificial intelligence and developing new quality productivity.

"hong kong itself has natural advantages. it can serve as a gathering place and center for data assets, data interaction, and data-based research, thereby realizing the orderly cross-border flow of data." huang yin, managing partner of ey south china, said in an exclusive interview with a reporter from 21st century business herald during ey's "2024 greater bay area energy focus" forum.

he admitted that in recent years, countries have been increasingly aware of data protection. "the era of barbaric use of massive data like in the past may not happen again in the future. people are becoming more and more aware of data protection, which may lead to the emergence of some data islands. hong kong is expected to become a center to exchange data with each other after desensitizing it."

in fact, the hong kong sar government proposed in its 2023 policy address that it plans to set up an artificial intelligence supercomputing center in cyberport. the center is expected to provide 3000 petaflops of computing power by early 2026, which is equivalent to processing nearly 10 billion images in one hour.

hong kong financial secretary paul chan recently revealed that the ai ​​supercomputing center is expected to start using the first phase of facilities this year. at the same time, the sar government will also launch a funding program to support universities, research institutions and enterprises to make full use of the supercomputing center.

huang yin. data map

develop new quality productivity

five years after the release of the outline development plan for the guangdong-hong kong-macao greater bay area, the greater bay area has made substantial leaps in economic development, people's livelihood construction and other fields, and has continued to build the "three-dimensional competitiveness" of the greater bay area. "openness, reform and innovation have always been the 'gene' background and development advantages of the guangdong-hong kong-macao greater bay area, and are also the inherent requirements for cultivating and developing new quality productivity." huang yin said in his speech at the forum.

"the entire greater bay area needs broad, in-depth and skilled cooperation, such as combining the skills of a large number of mature industrial workers. in this regard, the complementary effects and differentiated development of various cities in the greater bay area are very obvious."

hong kong has been constantly adjusting its position in response to the needs of the country at different stages of development, thus continuing to make unique contributions to the country's economic development. developing new quality productivity is an "inevitable path" for the country to push economic and social development to a higher level in the new era. how to develop new quality productivity in accordance with local conditions has also become a "question of the times" that must be answered.

as a city with a land area of ​​1,106 square kilometers, hong kong has gathered five well-known universities ranked among the top 100 in the world, with strong basic scientific research capabilities. at the same time, there are currently 16 national key laboratories and 6 national engineering technology research centers established in hong kong, and they have reached the world's leading level in their respective technical fields. this provides a solid foundation for hong kong to cultivate and expand new quality productivity.

huang yin pointed out that hong kong must focus on innovation to develop new productivity and give full play to its advantages in basic scientific research. "we must do a good job in transforming scientific research results from 0 to 1, and as the ecological chain of the greater bay area continues to improve, the vitality will become stronger and stronger."

in recent years, the hong kong sar government has continuously increased its support for the innovation and technology industry. in 2023, it allocated hk$10 billion to launch the "industry-university-research 1+ program", which will provide matching funding for no less than 100 research and development teams from universities funded by the university grants committee that have the potential to become successful start-ups. in may this year, 24 university research and development teams were selected for the first batch of funding projects, covering a variety of different fields such as health and medical sciences, new materials and new energy, artificial intelligence and robotics, electrical and electronic engineering, and advanced manufacturing.

in his opinion, hong kong has unique advantages, including a rule of law environment, low tax rates, and a mature transportation hub and financial center. "i think these advantages are the important reasons why the greater bay area and even the whole country choose hong kong as a bridgehead for scientific and technological innovation financing and external expansion. hong kong can serve as a ctc-cooperate treasury center for enterprises and a center for fund allocation."

going overseas is a natural choice for chinese companies

in recent years, with the transformation of china's factor structure and industrial upgrading strategy, the globalization of chinese enterprises has entered a new stage, and the overseas strategy has gradually changed from an "optional option" to a "must-have option" for corporate development.

"in the first half of 2024, three industries have a relatively high proportion. the first is related to real estate, hotels and construction; the second is related to tmt; the third is related to advanced manufacturing and logistics and transportation. the proportion of these three industries going overseas is about 56%." huang yin said.

he admitted that chinese companies are already at the forefront of the world in some industries. "it is natural for chinese companies to go abroad. this is because our manufacturing industry is so strong and we have a lot of technological accumulation in industrialization, so we have great advantages in terms of cost and efficiency."

among them, southeast asia has undoubtedly become a popular destination for chinese manufacturing overseas in recent years. "southeast asia has always been a popular region for chinese companies to go overseas, with its geographical proximity and short industrial chain transfer radius. most of these southeast asian countries are friendly to chinese capital, and they have large populations and local market sizes."

public data shows that from 2021 to 2023, china's manufacturing industry's cumulative investment in southeast asia will exceed us$40 billion, far exceeding europe, latin america and other regions. southeast asian countries such as indonesia, malaysia and cambodia are attracting a large amount of investment from china.

as an important window for the country to the world and for the world to enter the chinese market, hong kong is a bridge connecting the mainland and the world. huang yin said that as an international financial center, hong kong can play multiple roles in the overseas expansion of chinese enterprises. "in terms of capital use, setting up regional headquarters or overseas operation centers and capital allocation center headquarters in hong kong will make it more flexible and convenient for enterprises to look for opportunities for mergers and acquisitions or greenfield factory construction overseas in the future."

at the same time, in terms of professional talents, "hong kong has accumulated a relatively large number of talents in the professional services industry. it has a group of teams that are able to operate and manage relatively well and have an international vision. therefore, when companies go overseas, they can help chinese companies develop overseas." huang yin said.