Hong Kong’s IT equipment (computer and parts) imports in 2007 reached USD 31.9 billion. The value of U.S. IT equipment exports to Hong Kong was USD 1.8 billion, representing 5.6% of Hong Kong’s total IT imports.
Along with the importance of IT and sustained popularity of the Internet, the demand for IT products and solutions continues to grow in Hong Kong, particularly in the following areas: Wireless/Mobile Applications; Multi-Media Products; Digital Entertainment; Logistics/Supply Chain Management; Customer Relationship Management; Business Intelligent Application; E-Commerce, Data Storage, and IT Security.
The Digital 21 Strategy was first published in 1998 by the Government of the Hong Kong Special Administrative Region to set out the Government’s vision of developing Hong Kong into a leading digital city. The strategy was revised in 2001 and 2004 to take into account the evolving needs of the community and technological advancements. Moving ahead, the Government announced on December 21 2007 the fourth edition of the Digital 21 Strategy. The vision of the 2008 Digital 21 Strategy1 is "Advancing Hong Kong’s achievements and seizing new opportunities: building on Hong Kong's position as a world digital city." Five key action areas are identified for implementation between 2008 and 2010. These key action areas include:
I. Facilitating a digital economy - Government continues to play a significant role as a user, supporter and facilitator of ICT and its applications.
II. Promoting advanced technology and innovation - Maintain Hong Kong's edge as a world digital city for technology adoption and innovation.
III. Developing Hong Kong as a hub for technological cooperation and trade - Harness Hong Kong's role as the two-way platform for Mainland enterprises to bring in foreign investment and participate in the global economy; foster a vibrant ICT industry with a knowledgeable and versatile workforce; and ensure the continued presence of an environment that is conducive to technological business.
IV. Enabling the next generation of public services - Use ICT to re-engineer process to improve public service delivery.
V. Building an inclusive, knowledge-based society - Ensure that the benefits of ICT adoption are widely available to different segments of the community, including disadvantaged groups.
The Government is one of the major driving forces behind IT development and usage in Hong Kong. Estimated Government IT spending for fiscal year 2007/2008 is USD 690 million.
Although Hong Kong is a relatively small market for US IT exports, U.S. companies should consider Hong Kong as a gateway into the Mainland China market. A substantial amount of IT products imported to Hong Kong is re-exported to China. In 2007, about 60% of Hong Kong’s total exports of IT equipment went to China, totaling approximately USD 20 billion.
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July 2003 est.
from the Kowloon peninsula looking towards Hong Kong Island