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Hong Kong finance chief backs AI commercialization and mainland expansion

Financial Secretary Paul Chan said Hong Kong’s financial centre is meant to provide end-to-end funding support for AI research, development and commercialization.

Reported · Written up by our desk · Trade & Tariffs

Hong Kong’s finance chief, Paul Chan Mo-po, said the city should position itself as a hub for commercializing artificial intelligence and as a strategic base for mainland Chinese AI companies’ overseas expansion, while also flagging that development comes with risks and challenges. Chan made the remarks in a blog post published on Sunday after President Xi Jinping’s speech on Friday.

Chan said Hong Kong is committed to developing the city into a hub for AI research and development, a launch pad for global applications, a talent magnet, and a source of end-to-end financial support. He also linked the effort to the “efficient operation” of Hong Kong’s international financial centre, saying it can provide the backing needed for commercialization.

The finance chief said the financial support available through Hong Kong’s system could help attract more technology companies to the city.

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