Comprehensive Report: IT and EE Industries in Hong Kong

This report provides a comprehensive overview of the Information Technology (IT) and Electrical Engineering (EE) industries in Hong Kong. It highlights Hong Kong's position as a leading business center in Asia, emphasizing its advanced infrastructure in Information and Communication Technology (ICT) and its high ranking in the Network Readiness Index. The report details the presence of numerous software companies and the rapid development of cross-border e-commerce. It discusses the challenges faced by small and medium enterprises in utilizing information technologies and the significant opportunities for entrepreneurs, particularly in front-end web development. The analysis covers the importance of foreign direct investments in driving research and development in the electronics and IT sectors, as well as the growth of start-ups, Artificial Intelligence, and machine learning. The report examines the government's initiatives to utilize AI in various sectors, including disaster monitoring and healthcare. It also presents global rankings and provides references to relevant sources, including industry reports and academic publications, to support its findings. The report concludes by emphasizing the strategic business plans and the growth potential of the IT industry in Hong Kong, despite facing competition from other developed countries. The analysis includes the use of figures and tables to support the findings and meet the assignment requirements.

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IT and EE industries in Hong Kong
Hong-Kong is a top business centre in Asia continent. It has lots of advanced
infrastructure in Information and Communication Technology. As per the Global Economic
Report (2016) of World Economic Forum, Hong-Kong is bagged third position in Asia in
Network Readiness Index. There are 395 software companies are available. Cross-border e-
commerce is developing rapidly in Hong Kong ("Engineering Industry in Hong Kong | Hong
Kong Means Business", 2020). Small and medium enterprises are facing some difficulties
while using the information technologies in their logistics systems in Hong Kong.
Hong Kong has a great infrastructure for entrepreneurs. There are lots of researches
activities are going on in Big Data in Hong Kong (Zhang, 2020). If a person is good in front
end website development, then Hong Kong is a good place for him. Frond end web designing
can be easily outsourced in Hong Kong.
Foreign direct investments help the electronics and IT industries of Hong Kong to
perform the research and development (Yeh & Chao, 2020). It helps to increase number of
patents in the area of electronics. In 1960s, the electronic industries of United States of
America manufactured semi-conductors, computer memory and other high technology
products. In this sector, a huge amount of non technical manpower is required. It has some
strict requirements on the factory specifications.
In 2019, the Shenzen-Hong Kong innovation cluster bagged second position in the
globe. In 2019, the number of start-up for IT industry has grown by twenty one percent to
3,184. For that reason, the rate of employment also increased. It was increased by thirty one
percent. Artificial Intelligence and smart are also increased in Hong Kong (Yeh & Chao,
2020). In Hong Kong, lots of disasters are happened. That is why, local government plans to

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use some artificial intelligence based monitoring systems. Big data analytics and some
artificial intelligence based systems. There are lots of foreign investments happen for
performing some research works in the artificial intelligence sector. Government of Hong
Kong decides to use artificial intelligence in many sectors.
There is near about two-fifty start-up companies in artificial intelligencer sector.
Machine learning is also growing sector in Hong Kong (Zhang, 2020). If a person has a
sound knowledge in the field of machine learning then Hong Kong is a good place for his or
her career. There are many countries who invest a huge amount of money for the
development of machine learning industries in Hong Kong.
In Hong Kong, machine learning engineer job is very popular. Many companies in
Hong Kong develop healthcare related machine learning based applications which is
responsible for the enhancement of the healthcare industry (Chan et al., 2020). Machine
learning application companies are interested to collaborate the digital transformation with
healthcare systems. For that reason, demands for the data analysis job are increasing rapidly.
In Hong Kong, sentiment analysis is very popular.
At current scenario, the IT market of Hong Kong is totally changed. They have 1.3
million strong IT market in the entire globe. In future, the IT industry of Hong Kong will
provide a huge growth (" 香香香香 | Hong Kong Memory", 2020). As the IT industry of Hong
Kong uses some latest technologies, it should have a stronger presence in the global
information technology market even though they are facing lots of challenges from some
developed countries Taiwan, Singapore and many others.
Global
Rankings
2016 2017 2018 2019
Global 14/128 16/127 14/126 13/129

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Innovation
Index
IMD Digital
Competitiveness
11/61 7/63 11/63 8/63
ITU ICT
Development
Index
6/75 6/176 Not applicable Not applicable
Figure 1: Global Ranking table
Source: hktdc.com/business-news/article/Hong-Kong-Industry-
Profiles/Innovation-and-Technology-Industry-in-Hong-
Kong/hkip/en/1/1X000000/1X09U6YK.htm
Hong Kong has a strategic business plan in the field of Information Technology in
Asia. With the help of various opportunities provided by Guangdong-Hong Kong-Macao
Bay Area development, Hong Kong will further develop its research and development
capabilities, legal system, technical infrastructure, intellectual infrastructure and many others
for the Information Technology and Telecom industry ("Information and Communications
Technology Industry in Hong Kong | HKTDC", 2020). It helps to grow interest of the
innovative companies for accessing the Asia Market. It also helps the mainland companies to
move to the foreign countries.
The start-up ecosystem of the IT industries of Hong Kong has gained lots of
popularities in recent years ("Engineering Industry in Hong Kong | Hong Kong Means
Business", 2020). It helps to increase the investment and necessary funding support. There

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are lots of companies in Hong Kong who are mainly focused on the research of SaaS, ICT
based software, data analytics, Internet of Things and Augmented reality.
Figure 2: Technology industry in Hong Kong
Source: www.medium.com/@hkdb/technology-industry-in-hong-
kong-f4b4886ff86

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References
Chan, E. M. H., Ho, C. K. D., Yip, T. L., Cheung, J., & Gunasekaran, A. (2020). The belt and
road initiative’s impact on textile and clothing supply chains in Asia: Views from
Hong Kong industrial stakeholders. In Belt and Road Initiative–Collaboration for
Success (pp. 51-61). Springer, Singapore.
Engineering Industry in Hong Kong | Hong Kong Means Business. (2020). Retrieved 20
March 2020, from
https://hkmb.hktdc.com/en/1X003URR/hktdc-research/Engineering-Industry-in-
Hong-Kong
Information and Communications Technology Industry in Hong Kong | HKTDC. (2020).
Retrieved 20 March 2020, from
http://hong-kong-economy-research.hktdc.com/business-news/article/Hong-Kong-
Industry-Profiles/Information-and-Communications-Technology-Industry-in-Hong-
Kong/hkip/en/1/1X000000/1X006NLI.htm
Yeh, E. Y. Y., & Chao, S. Y. (2020). Policy and creative strategies: Hong Kong CEPA films
in the China market. International Journal of Cultural Policy, 26(2), 184-201.
Zhang, X. (2020). Performance of China-owned banks in Hong Kong. International Journal
of Banking and Finance, 9(3), 72-87.
香 香 香 香 | Hong Kong Memory. (2020). Retrieved 20 March 2020, from
https://www.hkmemory.hk/collections/postwar_industries/manufacturing_industries/
electronics/industry_focus/index.html

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