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  • Deputy Chairmen’s View

    Prof Eric Yim

     

    Prof Eric Yim

        Think Asia, Think Hong Kong, the flagship campaign under Hong Kong Trade and Development Council (HKTDC) for the promotion of Hong Kong as the springboard for foreign investments tapping into Mainland China and other Asian markets, was held in London in late September. This year, the event was powered by some 60 UK organisations, attracted over 2,100 government and business leaders from the UK, Hong Kong and Mainland China. Apart from 220-plus business matching sessions and a series of exchange opportunities, the spotlight was on 50 reputable leaders delivering their speeches and insights, including HKSAR Chief Executive Carrie Lam and Minister of State for Trade Policy and Minister for London Greg Hands. In view of its special ties with the UK, Hong Kong has always been UK enterprises’ top choice to enter the Asian markets. Evidently, since the first Think Asia, Think Hong Kong was held in 2010, UK’s investment in Hong Kong has doubled to over HK$250 billion as of 2015. Such number is destined to significantly increase as the Belt and Road Initiative gradually unfolds. I urge members to analyse how the Belt and Road Initiative would benefit their operations and timely adjust their business strategies so as to capture the opportunities within. HKTDC has laid out a series of promotional events in the UK and Hong Kong until early next year. For details please visit http://www.thinkasiathinkhk.com/2017/.   

     
     
     
    Dr Daniel Yip

    Dr Daniel Yip

    Between August and September, the FHKI conducted a survey among members, collecting data and information on their research and development (R&D) and related activities so as to understand more of their R&D capabilities and their demand for technology and talent. Reviewing the approximately 80 valid responses that we have received, we now have a firm grasp on some of the key findings such as Hong Kong manufacturers’ expenditure on R&D, qualification and allocation of their R&D personnel, as well as the trend of their past and future investments in R&D. Moreover, enterprises also clearly stated the assistance and support that they seek from the Government, such as tax incentives for encouraging further deployment in R&D activities. We are now collating the findings and shall release the report in due course. We will also continue to lobby the Government through FHKI’s representative in the Committee on Innovation, Technology and Re-industrialisation to consider adopting various measures to support manufacturers undertaking and increasing their R&D activities, in a bid to steer enterprises toward upgrading and transformation.

     

     

    Dr Jack Yeung

     

    Dr Jack Yeung

        Last month, I was invited to speak at the “Start-up 101” Entrepreneur Workshop organised by the HKTDC, sharing with the audience my personal entrepreneurial experience and startup’s landscape in Hong Kong. In recent years, there is no shortage of local entrepreneurs; as for startups engaged in the innovation and technology fields, aside from innovative ideas and passion, sufficient and professional support and mentorship are just as equally important. CB Insights conducted an analysis on failed startups earlier and concluded that no market need being the biggest factor of their failures, which hinted that innovative ideas do not necessarily translate into success. This is why mentorship was designed to play a big part in FHKI’s STARS Programme. Through frequent meetings, mentors are able to closely monitor every step taken by the members so as to increase their success rates. As the first cohort is nearing the end, I look forward to our seven members’ performances on the Demo Day scheduled on 19 October; meanwhile, STARS Programme will kick start its second cohort in November with the theme locked on smart city. I encourage startups in this field to pay close attention to the Programme’s development. 

     

     

     

     

    Dr Daniel Yip

     

    Dr Sunny Chai

    Nowadays, ransomware is one of the fastest growing cybersecurity threats in the world, so that small and medium enterprises (SMEs) have to make every effort to protect their important data. In addition to installing anti-virus software, SMEs should also enrich the knowledge on new cybercrime trends and the importance of backup in order to protect data against ransomware attacks. FHKI Group 25 (Hong Kong Information Technology Industry Council) will organise a seminar on “IT Protection Strategy for SME……Wanna CRY again?” on 23 October, inviting industry experts to share IT strategies to assist SMEs in enhancing cyber security and computer backup systems. Company booths will also be set up during the seminar so as to provide members a platform to understand more on how different technologies can help them to upgrade and transform. I recommend members to attend the seminar in order to grasp the trend of cybercrime and the ways to defend against a new wave of ransomware attack similar to WannaCry.

     

     

     

     

     

    Dr Jack Yeung Sunny Tan

    Following North Korea’s suspected sixth nuclear test, US President Donald Trump said that the US would consider stopping all trade with any country doing business with North Korea. The statement was widely regarded as a thinly veiled threat aimed at coercing China to squeeze North Korea. North Korea’s biggest partner by far is China, which accounts for about four-fifths of its trade and helps the country with its fuel, food and machinery needs. Meanwhile, China is also the largest trading partner of the US, with goods and services between the two nations totalling nearly US$650 billion a year. US exports to China alone supported an estimated 911,000 jobs in the US. The US economy including trade, import and export, job opportunities and prices may be adversely affected should the government implement such measure. I recommend members to pay close attention to the Trump’s latest moves on trade measure and observe its impact on Hong Kong market.

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