Hong Kong’s Innovation and Technology Bureau and the Cyberspace Administration of China signed a memorandum of cooperation covering key areas including blockchain.

The Innovation, Technology and Industry Bureau of the Hong Kong Special Administrative Region (HKSAR) Government and the Cyberspace Administration of China (CAC) signed a Memorandum of Cooperation on Innovation and Technology Development to promote high-quality development of the digital economy through technological innovation. The memorandum covers key areas including artificial intelligence, cross-border data flows, and blockchain, with the aim of thoroughly implementing China’s 15th Five-Year Plan, supporting Hong Kong’s development as an international innovation and technology hub, and advancing a new real economy centered on technological innovation. HKSAR Chief Executive John Lee stated that Hong Kong will continue deepening cooperation with the CAC to further facilitate cross-border data flows within the Guangdong-Hong Kong-Macao Greater Bay Area.