RISE stresses China’s growing tech role
China is a growing force in technology development and is achieving success in many different areas, visitors to the RISE conference at the Hong Kong Convention and Exhibition Centre heard on Tuesday.
The conference, which runs from Monday to Thursday, features discussions on the mainland’s and Hong Kong’s roles in technology and innovation.
During a morning session international readers were briefed on the 100-page China Internet Report, compiled by a team led by 500 Startups, which summarized China’s dynamic internet industry.
The report said mainland internet giants are now engaged in many different areas. For example, Baidu, Alibaba and Tencent are exposed to most key sectors either through building in-house solutions or investing in existing providers. The three companies have now invested in 150 firms outside the mainland.
The report also noted China remains the world’s largest gaming market and is still growing. Last year, China secured $30.8 billion in gaming revenue — more than a quarter of the global total.
Edith Yeung, partner and China head at 500 Startups, told the conference: “I really think China is leading in so many areas, and people elsewhere in the world just have no clue.”
According to a poll conducted at Venture, the leading gathering of tech investors in Asia, two-thirds of global investors said China showed more growth potential than the United States. It is expected to be the dominant tech power within five years.
The morning panel sessions were concluded by Chief Executive Carrie Lam Cheng Yuet-ngor’s discussion with CNBC anchor Bernie Lo. They discussed politics and innovation.
“The role of politics in innovation is to provide leadership,” Lam stressed. The CE said the special administrative region’s leadership was boosting the development of innovation and technology in Hong Kong in terms of both investment and policies.
“Politics is always about compromising, but I would say in technology we should not make compromises; we shouldn’t settle for the mediocre, but go for the best,” Lam added.
The CE expressed confidence in innovation and technology development in Hong Kong. Lam noted that two major pieces of cross boundary infrastructure connecting Hong Kong to other cities of the Guangdong-Hong KongMacao Greater Bay Area will be launched this year: the Express Rail Link and Hong Kong-Zhuhai-Macao Bridge.
“For those who want to come to Hong Kong, I can assure you that over the next four years you will have a very energetic leader,” Lam pledged.
Attracting around 15,000 participants from more than 100 countries this year, RISE is produced by the team behind Web Summit, Europe’s largest technology conference.
The remaining two days of event will continue to feature the world’s large companies along with exciting startups sharing their stories and experiences.