Hong Kong, mainland China sign 'milestone' MOU on promoting digital economy

Memorandum of understanding covers topics including AI promotion, cross-boundary data flow and blockchain Hong Kong authorities have signed a memorandum of understanding (MOU) with mainland China's top internet regulator to promote the digital economy, with the city's leader pledging to contribute to building a strong technological nation. The MOU was signed on Sunday by Secretary for Innovation, Technology and Industry Sun Dong and Wang Jingtao, deputy director of the Cyberspace Administration of China (CAC), and covers topics including artificial intelligence (AI) promotion, cross-boundary data flow and blockchain. Chief Executive John Lee Ka-chiu and CAC director Zhuang Rongwen witnessed the signing of the MOU, which aims to support the implementation of the nation's 15th five-year plan for China's economic and social development between 2026 and 2030. It also strives to support Hong Kong in becoming an international innovation and technology (I&T) centre, promote a new economy driven by the I&T industry and deepen the integration of the city into national development. Lee said the MOU marked a new milestone in cooperation on developing the digital economy, while fully showing the country's support for Hong Kong's I&T development. "Hong Kong will continue to capitalise on our distinctive advantages of having strong support from the motherland and close connection with the world under the 'one country, two systems' [governing] principle," he said.