HKPC and Shenzhen Data Exchange Centre Forge Memorandum of Understanding Building the Hong Kong-Shenzhen Data Ecosystem and Unlocking Data Exchange Opportunities

(Hong Kong, 15 November 2024) In order to facilitate the data exchange between Hong Kong and Shenzhen, the Hong Kong Productivity Council (HKPC) and Shenzhen Data Exchange Centre (SDEC) signed a Memorandum of Understanding (MoU) at the China (Shenzhen) Data Industry Innovation Conference (the Conference) on 14 November. The two parties will collaborate on five major areas: promoting data interconnection between Hong Kong and Shenzhen, developing data element markets, enabling SMEs to undergo transformation and upgrading through data assets, building a Hong Kong-Shenzhen data ecosystem and exploring initiatives to advance the digital economy.

Witnessed by Ms Vivian LIN, Chief Operating Officer of HKPC and Mr Yang ZHAO, Deputy General Manager of of SDEC, the MoU was signed by Ms Stella LEUNG, Head of Business Development and Operational Excellence of HKPC and Mr Dongyang LI, Head of the Ecosystem Development Division of SDEC. This collaboration will facilitate the cross-border flow of personal data in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), cultivate the data services market and unlock new opportunities between Hong Kong and Shenzhen, thereby facilitating the overall economic development and data integration of the GBA.

The nation has clearly emphasised the need to drive high-quality economic development through new productive forces. Data serves as a crucial foundation for new productive forces. This year’s Policy Address highlights the importance of establishing a robust system to promote the integration of the real economy and the digital economy, marking it as one of the key areas of focus for new productivity forces. This includes accelerating efforts to develop the digital economy by hastening the digital transformation of industries, bolstering digital infrastructure, delving into the establishment of a data exchange ecosystem, and piloting facilitation arrangements for cross-border data flows within the GBA.

Ms Vivian LIN, Chief Operating Officer of HKPC, said, “We are delighted to announce our partnership with SDEC to jointly build a solid foundation that leverages our complementary strengths and promotes joint development. Together, we aim to build a robust data ecosystem. We believe this collaboration will enhance our role as a ‘super value-adder’, helping to improve the overall efficiency of cross-border data application. We will work with Government departments, data service providers, traders and SMEs, combining our efforts with SDEC's significant expertise and experience in data exchange and market development. We plan to organise seminars and briefing sessions for SMEs and stakeholders, with the aim of building a solid data ecosystem for the industry in Hong Kong.”

Mr Yang ZHAO, Deputy General Manager of SDEC added, “HKPC is a significant stakeholder in Hong Kong’s innovation and technology ecosystem, and a core initiator of nurturing new productive forces in the GBA. This collaboration between HKPC and SDEC will promote the synergistic development of digital economy in the GBA, injecting new momentum and vitality into the development of digital economy in the GBA, capitalising Hong Kong’s strengths and fostering international cooperation in data elements.”

The two parties signed the agreement to pursue five major areas that will strengthen Hong Kong’s role as the International Data Hub. In the future, societal needs for cross-border data will be addressed and various measures will be explored to enhance industry efficiency and competitiveness.

1. Promoting data interconnection between Shenzhen and Hong Kong: Promoting data flow between the GBA and the Hong Kong Special Administrative Region under the premise of a compliant and lawful standard framework, optimise the allocation of data resources between Shenzhen and Hong Kong, and help enhance the overall efficiency of cross-boundary data application.
2. Developing the data factor market: Promoting co-operation between data traders in Shenzhen and Hong Kong, to nurture the data services market, and encourage innovation in the areas of data exchange, analysis and security, and to jointly develop the market.
3. Empowering SMEs to undergo transformation and upgrading through data assets: Provide training and consultancy services to SMEs to help them master data exchange technologies, enhance business efficiency and competitiveness, and empower SMEs to develop data application scenarios.
4. Building a Hong Kong-Shenzhen data ecosystem: Building a data exchange and communication platform to enhance informatisation to cultivate cooperation, and at the same time to jointly address the key issues of data governance, circulation and trading through organising data ecosystem activities (e.g. roadshows, seminars and summits).
5. Exploring initiatives to advance the digital economy: Applying data circulation and digital resources in Shenzhen and Hong Kong, to explore a system of data governance in Shenzhen and Hong Kong that can be converged, so as to establish a foundation for the promotion of digital economy in Shenzhen and Hong Kong.

Additionally, HKPC was also the supporting organisation of this year's China (Shenzhen) Data Industry Innovation Conference which was attended by about 200 participants. With the theme of “Data Empowers Innovation, Smart Tech Inspires the Future”, the Conference focused on exploring a series of themes such as artificial intelligence, digital infrastructure, etc., and showcasing a series of innovative application achievements of data elements in an all-round way to give play to the role of industry demonstration and promote the development of digital economy.

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Witnessed by Ms Vivian LIN (first from right), Chief Operating Officer of HKPC and Mr Yang ZHAO, Deputy General Manager (first from left) of the Shenzhen Data Exchange, the MoU was signed by Ms Stella LEUNG, (second from right), Head of Business Development and Operational Excellence of HKPC and Mr Dongyang LI, Head of the Ecosystem Development Division (second from left) of SDEC.