Secretary of Finance Paul Chan has outlined his vision on Hong Kong's position in the economy of artificial intelligence. The goal is to transform the city into a place capable of producing research and development, but also accompanying technologies towards commercial applications destined for international markets. The plan described by the finance secretary assigns four main functions to Hong Kong: a pole for research and development, a platform for starting up global applications, an attraction point for industry professionals, and a long-term financial support source throughout its industrial journey.

This combination should link innovation, capital, and international access. Another element concerns Chinese mainland-based AI companies interested in expanding beyond their domestic market. According to the daily news, Chan considers Hong Kong a strategic base where these businesses can start growing abroad, utilizing the city's ability to relate advanced technology models with international business rules and regulations.

Standard alignment is presented as a central component of this role. In Chan's perspective, Hong Kong might contribute to making innovations compatible with foreign-market operating conditions and corresponding commercial applications. However, no specific standards, industries or countries are mentioned as prioritized.

The secretary of finance has also linked the technological strategy to Hong Kong's status as an international financial center hub. At his judgment, the efficiency of the local financial system could offer necessary resources both for experimentation and commercialization of AI solutions. This support would also favor the arrival of other tech companies.

After a speech delivered on Friday by President Xi Jinping, it was reported that Xi asked artificial intelligence to become a driving force for various countries, aiming at promoting shared prosperity and common security. The position expressed by Chan places Hong Kong ambitions within this direction. Alongside economic opportunities, the secretary of finance has reminded risks associated with spreading artificial intelligence.

Chan defines this technology a new growth motor, observing however that its development may generate challenges and dangers for global economy. No specific incidents nor impact estimates were provided. Chan emphasizes cooperation and inclusive growth without presenting detailed regulatory tools or international agreements.

A strategic outline remains unspecified. No investments, deadlines, incentives, objectives or names of involved companies were reported. Measures remain unclear how Hong Kong intends translating this stance into operational programs, attracting talents and tech societies while ensuring risk control evoked by Chan.