Saudi Press

Saudi Arabia and the world
Thursday, Jul 10, 2025

Hong Kong's Cyberport can connect US and China

Hong Kong's Cyberport can connect US and China

The Guangdong-Hong Kong-Macao Greater Bay Area project will play a decisive role in molding Hong Kong's future, with some media calling the blueprint "China's plan to beat Silicon Valley". And that's not without reason.
The leading cities in the Greater Bay Area are expected to leverage their respective strengths to contribute to the project's success. Hong Kong will contribute its expertise in banking and financial services, while Shenzhen-where tech companies such as Huawei and Tencent are located-will leverage its technological prowess.

That doesn't mean Hong Kong can't make significant contributions in innovation. Hong Kong is fast developing into a leading financial technology hub.

A key part of the government's fintech strategy is Cyberport, a digital community with a cluster of technology companies. It is managed by Hong Kong Cyberport Management Co and wholly owned by the Hong Kong government.

It houses about 600 tech companies, of which 200 are not local. According to data provided by InvestHK, a department of the Hong Kong government that is responsible for foreign direct investment, Cyberport's publicly funded incubation program admitted 108 new startups in 2018 and 2019. It has achieved an impressive survival rate of 72 percent.

In 2018, the government allocated HK$300 million ($38.6 million) to Cyberport for strengthening support for its startups. A sum of HK$5.5 billion has also been earmarked for the development of Cyberport 5, which is expected to be completed in 2024.

While Shenzhen is presumed to be the lead technology contributor to the Greater Bay Area, there is still room for Cyberport-and for Hong Kong-to make a significant contribution.

This is important in the context of the United States-China trade conflict.

That is because Cyberport can play a key role in connecting the two countries. In September, Cyberport´s chairman, Lee George Lam, participated in a symposium organized by the Hong Kong Trade Development Council in Los Angeles.

Lam said tech companies and universities from Hong Kong and the US should collaborate closely on digital entertainment and artificial intelligence amid the trade conflict.

Hong Kong has something that Shenzhen does not have: its "one country, two systems" governance.

Despite the Chinese mainland having passed the new foreign investment law, which protects foreign intellectual property and prohibits forced technology transfers, many US companies, especially technology companies, are reluctant to enter the Chinese market.

It will take some time before foreign companies realize that China has entered the next phase of economic development-in the same way that Japan evolved from a copycat in the 1950s and '60s to world leader in innovation and technology-and now leads the world in the number of patent applications.

China is following the pattern established by Japan. What's remarkable in China's case is that it is taking far less time to undergo the same transformation.

Cyberport can play a key role in two ways.

First, it can be an integral part of the Greater Bay Area project, making meaningful contributions to the project's technological advancement.

Second, it can serve as a steppingstone between US and Chinese tech companies, since Hong Kong is in the perfect position to serve as a "gateway to China".

According to Chinese military strategist Sun Tzu, "The greatest victory is that which requires no battle." There's no reason the world's two biggest economies cannot achieve a win-win solution to their ongoing dispute.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×