Financial Secretary Paul Chan today began his visit to Nanjing with a delegation of about 30 members by delivering a keynote speech at Nanjing University, introducing new directions for Hong Kong’s economic development and outlining specific areas for co-operation among Hong Kong, Jiangsu and Nanjing.
In his speech, Mr Chan pointed out that artificial intelligence (AI) is reducing search and transaction costs, driving enterprises to redesign their operational processes and giving rise to new business models.
He noted that the country’s comprehensive manufacturing system and wide range of application scenarios provide ample scope for validating and continuously improving new technologies.
He highlighted that Hong Kong can leverage its strengths in finance, innovation and technology (I&T), professional services and international connectivity to complement the strong industrial foundations of Nanjing and Jiangsu, jointly promoting the commercialisation of research outcomes and industrial development.
Mr Chan said that Hong Kong can deepen co-operation with Jiangsu and Nanjing in two areas: supporting enterprises in going global and strengthening industrial collaboration.
“Hong Kong’s financial and professional services can support enterprises as they plan their expansion into overseas markets, covering financing, intellectual property strategies, product certification, alignment with standards, corporate governance, compliance and risk management, talent and treasury management.
“Enterprises can also establish international or regional headquarters in Hong Kong to attract talent and co-ordinate their overseas operations, while collaborating with universities, international research teams and enterprises in the city.”
On the industrial collaboration front, Mr Chan said that Nanjing’s strengths in the software industry can be combined with Hong Kong’s research and development (R&D) capabilities and international networks to jointly develop industrial software, AI agents for enterprises and robots to meet business needs.
“The two cities can also pursue joint R&D, clinical validation, patent licensing and international business collaboration in life and health sciences. In addition, they can jointly develop and validate green technologies for urban energy conservation, energy storage management and energy dispatch, and leverage Hong Kong to expand into overseas markets,” he added.
The Financial Secretary encouraged Nanjing University students to build a solid foundation in their disciplines and develop AI literacy. Through interdisciplinary learning and making good use of research collaboration and talent exchange opportunities between the two cities, they can develop a broad range of capabilities through practical experience, serve as a bridge between Nanjing and Hong Kong, and help bring more of the country’s research outcomes to the world.
The delegation held a discussion with university representatives and representatives of a number of enterprises founded by Nanjing University alumni. Innovative enterprises from both cities in fields including AI, photonic chips, biotechnology, advanced manufacturing and new energy introduced their businesses.
Participants explored opportunities for co-operation and ways to connect industry with capital.
Mr Chan said that Hong Kong’s unique institutional advantages under “one country, two systems”, together with its deep pool of capital, comprehensive professional services, extensive international networks and diverse talent pool, enable the city to provide all-round support for Mainland I&T enterprises in accessing international markets and expanding their global operations.
The delegation also visited Nanjing University’s Brain-Computer Interface Institute. The institute seeks to achieve breakthroughs in key technologies for non-invasive brain-computer interfaces and its research covers the diagnosis and treatment of brain diseases and rehabilitation.
In the evening, Mr Chan called on CPC Nanjing Municipal Committee Secretary Zhou Hongbo and Nanjing Mayor Li Zhongjun to exchange views on deepening co-operation between Hong Kong and Nanjing in economic affairs and trade, finance and I&T.
