Financial Secretary Paul Chan said the AI boom is adding momentum to Hong Kong’s economy and consumption. Strong global demand for AI-related products has driven Hong Kong exports to high double-digit growth for several consecutive quarters. From Dec last year to May this year, IPO proceeds from Hong Kong AI-related issuers were near HKD 100 bln, about 55% of the period’s total. Hang Seng Indexes Company has recently added multiple AI-related firms to its indices. A study estimates that if Hong

Financial Secretary Paul Chan said the AI boom is adding momentum to Hong Kong’s economy and consumption. Strong global demand for AI-related products has driven Hong Kong exports to high double-digit growth for several consecutive quarters. From Dec last year to May this year, IPO proceeds from Hong Kong AI-related issuers were near HKD 100 bln, about 55% of the period’s total. Hang Seng Indexes Company has recently added multiple AI-related firms to its indices. A study estimates that if Hong Kong SMEs reach large firms’ AI adoption levels by 2035, it could free up as much as HKD 65 bln in economic benefits. The government has also moved to embed AI internally: an AI effectiveness group has initiated a first tranche of 30 efficiency projects across 13 departments.