'Innovate or die': Hong Kong pushes for tech glory after falling behind its neighbours

22 June 2018

As China’s mainland tech giants continue to grow, Hong Kong needs to innovate and adopt new technologies to avoid being left behind. Major cities across China have already overtaken Hong Kong, and despite the establishment of an Innovation and Technology Bureau by the Hong Kong government, more needs to be done. In order for Hong Kong to develop and advance its innovation and technology sector, there needs to be stronger collaboration between businesses and universities, more funding for research and development and stronger regulation and policies that support innovation in the region. To help Hong Kong develop its technology and innovation, China’s government has offered to let Hong Kong and Macau academics access Chinese science and technology state research funds. While this is viewed positively for local technology development, there are concerns about becoming politically influenced by China’s Communist Party. Due to these concerns, businesses in Hong Kong must come up with their own solutions to create innovation or risk losing out on opportunities in the technology sector and falling even further behind their competitor cities.  

Read the full article on the CNBC website

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