Digital Economy Summit 2023 sets a record with over 4,000 attendees

Industry leaders and technologists gather to discuss FinTech, Web3 and other Smart City technologies on Day 2 of the Summit

HONG KONG, 14 April 2023 /PRNewswire/ — Asia’s innovation and technology (I&T) flagship, the Digital Economy Summit (DES) 2023, attracted a record attendance of more than 4,000 on-site and online this year, bringing together leading decision-makers in technology, business, academia and governments from more than 40 countries and regions.

The second day of DES 2023 kicks off today with the highly anticipated FinTech Forum, which provides a platform for industry leaders to consider how Web3 and virtual assets are reshaping financial services.  (PRNewsfoto/Cyberport)

The second day of DES 2023 kicks off today with the highly anticipated FinTech Forum, which provides a platform for industry leaders to consider how Web3 and virtual assets are reshaping financial services. (PRNewsfoto/Cyberport)

The second day of DES 2023 kicked off today with the much-anticipated FinTech Forum, which provides a platform for industry leaders to consider how Web3 and virtual assets are reshaping financial services. The importance of strengthening Web3 talent emerged as a central theme for many experts.

MR Paul ChanTreasury Secretary, said, “Hong Kong has a vibrant FinTech ecosystem. Today we have more than 800 FinTech companies. This is the success of the concerted efforts of the government, public and private sectors. The success or otherwise of FinTech, virtual assets or Web3 applications in finance will be staked on whether new technologies, models and applications can actually serve the needs of the real economy; address long-standing pain points; increase the efficiency of transactions; create values ​​and better experiences for the people; and ultimately work for the betterment of society. Each generation of technological reform breeds new applications and new opportunities. Innovation does not come without risk. Rather than standing still, the real issue is how to control the associated risk and move steadily forward. Based on the approach we have taken so far, I have a lot of confidence and optimism Hong Kong’s FinTech Future.”

MR Simon ChanChairman of Cyberport, said: “FinTech and Web3 are the gamechangers of our time. As an international financial center and I&T hub, Hong Kong is uniquely positioned to pave the way forward for next-generation FinTech and Web3. After the launch of Web3 Hub@Cyberport in January this year, the number of Web3 companies at Cyberport has increased remarkably by almost 60%, over 140. Cyberport will continue to work with the government and all sectors to jointly cultivate a Web3-friendly environment for that the industry should thrive. By fully leveraging our competitive advantages in finance and I&T, we are all set to usher in a new era of Web3.”

Mrs Ying Zhang, Deputy Director, Shanghai Municipal Commission for Economy and Informatization introduced Shanghai’s experience in developing data factor market. Mrs Clara Chan, The Chief Executive (Monetary Governance), Hong Kong Monetary Authority spoke to the audience about adopting a regulatory regime to support the sustainable and responsible development of virtual assets, such as stablecoins. In a panel formed by ESG experts, the participants discussed Hong Kong’s transition to an international carbon market. Leading academics and educators then exchanged views on how Hong Kong can attract Web3 talent and nurture the next generation local workforce.

Leverage the full potential of Web3 to drive innovation

To further explore the topic of Web3, Cyberport’s Beyond Web3 forum in the afternoon brought together thought leaders, innovators and outstanding hackathon teams to explore blockchain infrastructure, the evolution of the Web3 ecosystem and more.

Mrs Lillian Cheongsaid Under Secretary for Innovation, Technology and Industry, “Web3 presents enormous potential to create new opportunities and redefine existing business models. DES is very timely for us to bring together technology pioneers and industry elites to explore how we can best leverage the potential of Web3 to strengthen innovation and economic development in Hong Kong. The government will put in place comprehensive facilitation and support measures to join hands with industry to unlock the enormous potential of Web3 to advance the development of the digital economy Hong Kong.”

Promote new industrialization and smart mobility

The New Industrialization Forum organized by the Hong Kong Productivity Council attracted an enthusiastic audience to explore the role of integrated technologies such as artificial intelligence and robotics in putting people and the planet at the heart of manufacturing and supply chains.

MR Toni Drescher, Head of technology management at Germany’s Fraunhofer IPT shared the visions of i4.0 (industry 4.0) and beyond, while MR Alex Ngmanaging director and technical consultant, BBAST Technology Limited, elaborated on the humanization of i4.0. Prof Xiang Li, Associate Professor, Department of Automation, Tsinghua University reported from the frontline of human-robot collaboration. Prof Zheng Lipresident, Institute of Climate Change and Sustainable Development, Tsinghua University, highlighted the path and measures for a carbon neutral future in China.

Using technology to create a safer and more efficient travel experience was also a central theme for the Smart Mobility Forum. Organized by the Hong Kong Applied Science and Technology Research Institute, the forum focused on the potential of 5G to support smart transportation that can improve a city’s economic competitiveness and improve quality of life. An expert panel investigated the future of smart mobility in Hong Kong while Prof Ming LiuFounder of Shenzhen Unity Drive Innovation Technology and other leaders in telecommunications discussed the opportunities and challenges of autonomous driving and other smart mobility applications. Dr. Miao Wangchief expert of vehicle and infrastructure cooperation automated driving at Baidu, shared insights about automated driving.

DES 2023 marked the latest effort by Cyberport to build a vibrant ecosystem for smart cities and drive the growth of the digital economy, reflecting the broad directions and strategies set out by the “Hong Kong I&T Development Blueprint”, ultimately supporting the long-term the vision to transform Hong Kong into an international I&T centre.

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About Cyberport

Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 1,900 members including over 800 onsite and close to 1,100 offsite startup and technology companies. It is managed by the Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, and thus create a new economic driver for Hong KongCyberport is committed to nurturing a vibrant technology ecosystem by cultivating talent, promoting youth entrepreneurship, supporting start-ups, promoting industrial development by fostering strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in public and public sector. private sectors.

For more information, please visit www.cyberport.hk

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