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Digital Transformation

Digital Transformation
The Digital Transformation Series will examine the many factors driving businesses to seek digital solutions for their organisations — from consumer behavior, shifting market conditions, evolving economies, regulatory laws and increased competition — to the technologies that will lead the digital charge in the coming decades, including 5G, cybersecurity, artificial intelligence, cloud computing and automation. The series will dive deep into exploring the future of digital transformation in business and the crucial steps that leading executives must learn in guiding the future development and implementation of these technologies.
Cyberspace Administration of China director Zhuang Rongwen (left) sits down with Hong Kong Chief Executive John Lee Ka-chiu on April 12. Photo: Handout
Hong Kong economy

Editorial | Digital cooperation is a vital link for Greater Bay Area integration

By fostering tech and talent exchange, the new MOU reinforces Hong Kong’s financial standing and advances China’s national development goals.

Artificial intelligence

Video | Why your hard drives and SD cards just got more pricey

China manufacturing

China bets on AI-manufacturing integration to narrow digital gap with US

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Mergers & Acquisitions

How AI ‘scare trade’ is sparking an M&A rush by traditional firms, start-ups

AI start-ups and legacy firms clash in capital markets, spurring M&A as the technology reshapes industries.

AI-related disruptions are projected to lead to more mergers and acquisitions, accelerating automation, especially in the software-as-a-service industry. Photo: Shutterstock
Hong Kong property

Expanded Hong Kong scheme allows resale homebuyers to pay sellers directly

HKMA launches a direct transfer option for second-hand property transactions, replacing the traditional escrow system managed by law firms.

Banking & finance

HKMA unveils 20-point road map to modernise Hong Kong’s trade finance ecosystem

Project CargoX aims to digitalise Hong Kong’s trade finance, expand SME lending and strengthen connectivity with mainland China and Asean.

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Yuan

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images
China's economic recovery

China’s digital competitiveness hits high amid trade-splintering worries: survey

China’s R&D and tech innovation boost its digital competitiveness, but geopolitical headwinds pose growth risks, according to Swiss academic institute.

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Fintech

Hong Kong unveils fintech strategy to future-proof the city in AI, tokenisation

More than 40 initiatives will be implemented as part of Fintech 2030 to embed AI in finance and build a tokenisation ecosystem.

Artificial intelligence

Chinese AI model developers seek fast commercial adoption as training costs fall

AI penetration rate in China’s finance, government, telecoms and healthcare sectors are each in excess of 60 per cent, Frost & Sullivan says.

Open-source AI models from Chinese firms DeepSeek and Alibaba Cloud have seen increased adoption across various industries. Photo: Shutterstock
China's economic recovery

China bets on AI to pump trillions into economy amid national computing push

With artificial intelligence a critical battleground in the China-US rivalry, a national computing network has already signed up more than 100 AI models.

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People attend the launch event of the first commercial application of artificial intelligence for the mining industry in China’s Shandong province in 2023. From 2023 to 2028, China’s smart computing power is expected to grow at a compound annual rate of 46.2 per cent, a new report shows. Photo: EPA-EFE
Artificial intelligence

China Telecom unit says AI wave drives steady growth in digital services market

China Communication Services sees the proliferation of AI projects accelerating digital transformation across thousands of industries.

Decoding AI

AI literacy is key as Hong Kong embraces tech transformation

Experts gear up to move into the new era, with campaigns like Just Start set to teach AI skills to 1 million people in the city.

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Preface
Artificial intelligence

China, No 2 in global computing power, accelerates build-out as AI race heats up

China has invested massive resources to build digital infrastructure and plans an even stronger push in the future.

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Engineers work at a supercomputer centre in the central Chinese city of Wuhan. China trails only the United States in computing power after a massive push to build digital infrastructure. Photo: AFP
E-commerce

Meituan, JD.com build central kitchens to ratchet up China’s delivery war

China’s catering industry is transforming, as internet platform operators become more involved in the food supply chain.

Instant commerce rivals JD.com and Meituan are changing mainland China’s catering industry. Photo: Shutterstock
Banking & finance

Citigroup to explore stablecoins as Hong Kong and US regulations evolve

Clients are eager but seek clarity on use cases and the coins’ impact on balance sheets and liquidity, US bank’s head of services says.

Hong Kong politics

Hong Kong to mandate digital job applications for civil service

Digitalisation drive aimed at improving recruitment efficiency and the use of resources.

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Biomedicine: Companies

Hong Kong medical device maker to expand China facility amid US, EU barriers

Vincent Medical reconsiders plan to build new facilities in low-cost manufacturing locations abroad as US tariff threats linger.

Vincent Medical Holdings CEO Raymond Choi Cheung-tai. Photo: Edmond So
Banking & finance

Hong Kong’s digital banks seek post-Covid growth in wealth management

Hong Kong’s digital banks plan to expand wealth management businesses as deposits and loans surge.

Hong Kong Monetary Authority (HKMA)

HKMA to help banks assess firms for trade financing by using cargo data

HKMA launches CargoX, leveraging cargo data to enhance trade financing for SMEs amid global tariff concerns.

Banking & finance

Hong Kong to unveil 3 e-banking security measures to combat financial fraud

The HKMA’s ‘E-Banking Security ABC’ measures will enhance online banking security, deputy chief executive Arthur Yuen says.

The HKMA has stepped up its vigilance against online banking fraud. Last year, the city’s residents lost HK$9.15 billion to scamsters. Photo: Jelly Tse
Banking & finance

Hong Kong’s finance sector embraces GenAI, with adoption to reach 90% in 5 years

GenAI applications have the potential to lead to a more curated customer experience, Academy of Finance CEO Enoch Fung says.

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Enoch Fung (left), CEO of the Hong Kong Academy of Finance and executive director of Hong Kong Institute for Monetary and Financial Research (HKIMR), and Giorgio Valente, head of HKIMR, release a report titled “Financial Services in the Era of Generative AI: Facilitating Responsible Adoption” on Wednesday. Photo: Handout
Artificial intelligence

Tencent ramps up global AI efforts with advanced Hunyuan 3D-generation system

The open-source Hunyuan3D 2.0 is expected to lower barriers to entry for using AI models across video gaming, social media and other sectors.

India

Shock and gore: why Indian street plays resort to the outrageous and grotesque

Street theatre in India has had to adapt to the digital age and ideological threats to stay relevant amid a changing cultural landscape.

Education in Hong Kong

Letters | Yidan Prize laureate shows the power of digital education

Readers discuss the two lessons for Hong Kong educators, elderly couples renewing their marriage vows, sexual harassment at music festivals, and improvements for weather service.

Hong Kong students sit for the DSE Chinese-language exam at a Tai Po school on April 11. Hong Kong should consider transitioning the paper-based DSE examinations to digital formats. Photo: Handout
Artificial intelligence

Tsinghua University-fostered start-up to widen test of AI-based virtual hospital

The Agent Hospital developed by Tairex, formed under Tsinghua’s Institute for Al Industry Research, will conduct public tests next year.

The virtual Agent Hospital features 42 AI doctors covering 21 departments that include emergency, respiratory, paediatrics and cardiology. Photo: Shutterstock
Yuan

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

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Artificial intelligence

Hong Kong enterprise AI adoption sees upswing on strong government policy

Enterprises in Hong Kong are looking to explore AI solutions that not only enhance their capabilities, but also meet regulatory requirements.

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