Digital Landscape in Hong Kong, China

PROSPECTS

Hong Kong lags behind in digitalisation terms in Asia

Hong Kong, a city with a high level of access to the internet, has long been lagging its neighbouring countries in Asia in terms of digitalisation. One of the fundamental reasons was attributed to the lack of regulatory framework catering to fast-growing online commerce and digital payment systems.

Hong Kong’s next-generation 5G mobile broadband services

With its existing high level of network penetration, Hong Kong is expected to be one of the world’s earliest adopters of next-generation 5G mobile broadband services. In December 2017, the Office of the Communications Authority announced that the high frequency spectrum is expected to be available in 2019 and ready for telcos to offer the service in 2020.

The development of IoT

Facilitated by the development of high quality networks, IoT and smart city development have also been promoted actively by the government. HK Electric has launched a campaign in 2018 called “Smart Power Services” which is intended to help Hong Kong become a smart city.

COMPETITIVE LANDSCAPE

Building a new digital internet economy ecosystem for Hong Kong

In June 2018, 3 Hong Kong and Alibaba Group entered into a digital internet economy partnership to develop Hong Kong’s new digital internet economy ecosystem. Alibaba’s economy ecosystem project includes “Four Areas” covering city, home, manufacturing and automobiles.

Cash remains important

While digital payment gained traction in Hong Kong over the past few years, cash payment remains the most common and dominant payment method. According to the AlipayHK Smart Payment Popularity Index released by the Hong Kong Productivity Council, almost 99% of respondents use cash payment as their regular payment, while around 68% of respondents refused to adopt mobile payment.

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