March
2023
As part of a HK$10 billion initiative to kickstart Hong Kong’s artificial intelligence industry and transform Hong Kong into an international tech hub, the Hong Kong government has announced plans to launch a public consultation and task force to guide the establishment of an homegrown AI supercomputing center.
In addition, at this month’s Greater Bay Area Fintech Talent Summit, industry and government leaders emphasized the importance of attracting and nurturing young talent that is adept at interfacing with the increasingly digitized financial industry, with the goal of turning Hong Kong into a “Silicon Valley and Wall Street all-in-one” city. To materialize that vision, the Hong Kong Monetary Authorities, Bloomberg, and the Hong Kong United Youth Association organized a Greater Bay Area Fintech Talent Initiative with 323 university students in its inaugural cohort.
Summary
The Hong Kong government’s efforts to turn the city into an AI supercomputing hub fit into two larger trends: Hong Kong’s growing role in the CCP’s economic and technology policy, as well as the pattern of increasingly aggressive attempts by the Hong Kong government to attract global talent.
As policymakers in both the United States and mainland China push for more decoupling of the American and Chinese economies, the Hong Kong government has gone to great lengths to try and preserve Hong Kong’s role as a hub for international business. The goal of creating an “all-in-one” tech and financial hub is one part of this strategy, bolstered by global propaganda and talent recruitment efforts like the ones seen in John Lee’s “Hello Hong Kong” campaign.
Analysis
