Digital Entertainment Leadership Forum 2024: Exploring AI and Web 3.0 Innovations in Hong Kong's Digitainment Industry

Speech by FS at Digital Entertainment Leadership Forum 2024 (with photos/video)

​Following is the speech by the Financial Secretary, Mr Paul Chan, at the Digital Entertainment Leadership Forum 2024 today (August 16):

Simon (Chairman of the Hong Kong Cyberport Management Company Limited, Mr Simon Chan), Rocky (Chief Executive Officer of the Hong Kong Cyberport Management Company Limited, Dr Rocky Cheng), 張國來巡視員 (Second-level Inspector of Youth Department of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region Mr Zhang Guolai), Lilian (Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong), distinguished speakers and guests, ladies and gentlemen, here at Cyberport and online,

​Good morning. I feel excited to be here with you all at the opening ceremony of this year's Digital Entertainment Leadership Forum. Since 2014, this Forum has become a flagship event to foster the growth of digital entertainment - or "digitainment". It is a prominent platform for industry experts, entrepreneurs and investors to connect, engage, and explore together the cutting-edge trends and boundless possibilities in digitainment.

This year, the Forum is drawing over 3 000 industry leaders and enthusiasts, along with more than 60 distinguished speakers. Its popularity and the diversity of its participants are compelling illustration of Hong Kong's status as a digitainment hub.

The global entertainment and media industry has been growing steadily after the pandemic. New technologies, particularly AI (artificial intelligence) and Web 3.0, are deeply transforming the industry. They are redefining the interactions and applications across gaming, television and movies, and even arts and sports. For instance, generative AI is reshaping gaming development, reducing costs, and empowering artists and innovators to create more enriched, personalised, and immersive experiences for consumers. Technologies are enabling the industry to generate new values and revenue streams.

The theme of this Forum, "AI-powered Entertainment in the Web3.0 Era", is therefore all the more relevant. The event is gathering leading experts to discuss the latest trends and issues that are crucial to the future of the digitainment business. It also addresses a set of highly pertinent issues, such as driving sports and cultural tourism through digital experiences, enhancing arts and STEAM (Science, Technology, Engineering, Arts and Mathematics) education with technology, and nurturing talent for the AI and Web 3.0 era. I look forward to your insights which I am sure will inspire policy makers to better understand what needs to be done in the fast-evolving age of digitalisation.

I am also eager to see the exciting displays of products developed by our local innovators here in this Forum, ranging from metaverse applications to AI humanoid robots. They are splendid demonstration of a thriving digitainment ecosystem here in Hong Kong. Indeed, Cyberport is home to more than 160 digitainment companies, over 250 Web3 firms, and over 200 AI and big data-related start-ups. Among them is a gaming unicorn.

The HKSAR (Hong Kong Special Administrative Region) Government is actively supporting digitainment development, including supporting the Cyberport in building a vibrant Web 3.0 ecosystem. A proof-of-concept subsidy scheme was launched, which has enabled some 45 projects to commercially adopt Web 3.0. They span across arts, culture, telecommunications and other domains.

We are also building an AI Supercomputing Centre, and our target is to commission its first-phase facilities later this year. In this year's Government Budget, we have announced a subsidy scheme to support local universities, research institutes and business enterprises to use the Centre's computing power. We will nurture more talent and attract more such enterprises and projects to Hong Kong.

For those of you coming from abroad or watching this event live, I wish to emphasise that Hong Kong is where you want to be for growing your business. Here, with a free, open, multicultural and international environment, innovative peers, supportive government policies, and a vibrant financial ecosystem, you can find business partners and funding to turn your ideas and ambitions into reality.

Ladies and gentlemen, I wish this year's Forum a great success and your experience here truly rewarding. My gratitude goes to Cyberport for hosting this event and for their unwavering support to the development of digitainment sector. May I also wish all of you the best of health, business and innovation in the time to come. Thank you very much.

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

Speech by FS at Digital Entertainment Leadership Forum 2024 Source: HKSAR Government Press Releases

DH signs Co-operation Arrangement on Research for Quality Testing and Standards of Chinese Medicines with Experimental Research Center of the China Academy of Chinese Medical Sciences to promote implementation of innovation and high-quality development of traditional Chinese medicine

The Director of Health, Dr Ronald Lam, today (September 11) witnessed in Beijing the Department of Health (DH) and the Experimental Research Center (ERC) of the China Academy of Chinese Medical Sciences (CACMS), which is a subsidiary organisation under the National Administration of Traditional Chinese Medicine (NATCM), signing a Co-operation Arrangement on Research for Quality Testing and Standards of Chinese Medicines (Co-operation Agreement) that covers a period of five years. The Co-operation Agreement reinforces the exchange and collaboration, jointly promote the modernisation and innovation of Chinese medicines, as well as the advancement of high-quality development of Chinese medicines.

Witnessed by Dr Ronald Lam, Director of the Department of International Co-operation (Office of Hong Kong, Macao & Taiwan Affairs) of the NATCM, Mr Wu Zhendou, and the Vice President of the CACMS, Dr Yang Hongjun, the Co-operation Agreement was signed by the Assistant Director of Health (Chinese Medicine), Dr Edmund Fong, and the Deputy Director of the ERC, Dr Yuan Yuan.

The areas of collaboration include reinforcement on research and standardization of Chinese medicines quality testing, establishment of Chinese medicines quality testing data platforms, holding expert meetings on different fields of Chinese medicines jointly. The Co-operation Agreement enhances the standard of local Chinese medicines testing technology, reinforces the exchange and collaboration on testing technology, nurtures innovative talents and further foster the internationalisation of Chinese medicines, so as to align with the national development strategies for Chinese medicines as outlined in the Development Plan for Traditional Chinese Medicine during the 14th Five-Year Plan Period.

"I would like to express my heartfelt gratitude to the NATCM and the CACMS for their continuous support to the DH, including sending Chinese medicine experts to join Hong Kong to combat the COVID-19 pandemic, arranging acupuncture experts to provide guidance and training for local Chinese medicine practitioners on smoking cessation services with the Chinese medicine and acupuncture, sending Chinese medicine experts to assist Hong Kong Special Administrative Region (HKSAR) in conducting the Chinese Medicine Practitioners Licensing Examination, and inviting HKSAR Government to participate in the 'the Fourth National Survey of Chinese Materia Medica Resources' and providing guidance in various technical aspects. We have maintained close collaboration on the inheritance and innovation of Chinese medicine and to the development of global health over the years. I earnestly look forward to deepening our co-operation and exchange in Chinese medicine through the Co-operation Agreement signed today, and continue to work together to build a healthy China, healthy Greater Bay Area, and a healthy Hong Kong!", Dr Lam said.

After the signing ceremony, Dr Lam visited the ERC and the National Resource Center for Chinese Materia Medica of the CACMS, to learn about the latest development of Chinese medicines testing and research work in the Mainland and had discussion with professional staff in the laboratories. Dr Lam stated that upon the completion and commissioning of the new building of the Government Chinese Medicines Testing Institute, there will be more opportunities for both parties to collaborate on Chinese medicines research, allowing more research results to be published in the new journal Science of Traditional Chinese Medicine.

The DH has been actively facilitating exchange and co-operation with the NATCM in the testing and reference standard research of Chinese medicines. Both parties will implement the work related to promoting the high-quality development of the traditional Chinese medicines industry as outlined in the Development Plan for Traditional Chinese Medicine during the 14th Five-Year Plan Period, including the joint construction of a quality testing platform for Chinese medicines, and accelerating the standardisation, informatisation, modernisation and internationalisation of Chinese medicines. Under this synergistic effect, it can further promote the Chinese medicines industry towards high-quality development.

DH signs Co-operation Arrangement on Research for Quality Testing and Standards of Chinese Medicines with Experimental Research Center of the China Academy of Chinese Medical Sciences to promote implementation of innovation and high-quality development of traditional Chinese medicine Source: HKSAR Government Press Releases

DH signs Co-operation Arrangement on Research for Quality Testing and Standards of Chinese Medicines with Experimental Research Center of the China Academy of Chinese Medical Sciences to promote implementation of innovation and high-quality development of traditional Chinese medicine Source: HKSAR Government Press Releases