Digital Economy
39. Many traditional industries have accelerated the application of technology in their operations due to the epidemic. Examples include digital payment; smart self-service systems; and various online businesses, customer services and workflow management. For many people who stay at home during the epidemic, the use of online shopping services, video streaming platforms and online conference software has become their new mode of working, studying and entertainment. For various trades, it has now become a trend to speed up digital transformation in order to adapt to the new consumption modes and habits of the people. Only by making good use of information technology can enterprises seize the opportunities of development when the epidemic is over.
40. In view of the above, we have launched the Distance Business Programme under the AEF to provide funding support for enterprises to adopt information technology solutions and cover the expenses for providing relevant training to their employees. The programme has received an overwhelming response since its launch in mid-2020, and a total funding of nearly $800 million has been granted. We have subsequently allocated an additional funding of $1 billion for the continuation of the programme and further enhancement.
41. The challenges posed by the epidemic have also catalysed local I&T development. They not only incentivise businesses to conduct research and development (R&D) for products or innovative services but also provide enterprises with suitable contexts for application. The electronic wristbands used for home confinement and the touchless lift button system are some good examples. The Government will continue to support enterprises or manufacturers through, among others, the Public Sector Trial Scheme, the Technology Voucher Programme and the Re-industrialisation Funding Scheme in realising and commercialising their R&D outcomes, using technological services to improve their productivity or business processes, and setting up smart production lines in Hong Kong. This will enable them to better grasp the opportunities brought by the new economy.
42. I will allocate a total of $375 million to the Hong Kong Trade Development Council (TDC) in three years starting from 2021- 22 for developing virtual platforms to enhance its capability to organise online activities and to proceed with digitalisation. Moreover, the TDC will promote Hong Kong's strength in the development of the GBA and in healthcare products and services. It will also explore the use of its physical and online Business- to- Consumer platforms to assist young business starters in promoting their original products and gauging the preference of consumers.
43. In light of the epidemic, we have expedited our work in taking forward e-Government by providing more electronic services to make it easier for enterprises and individuals to submit applications, make payments, obtain licences and use government services. By mid-2022, unless there are legal or operational constraints, all government forms and licence applications can be submitted electronically. Besides, e‑payment options (including the Faster Payment System) will be available for making payments in respect of most government bills and licences starting from mid-2022.
44. The "iAM Smart", a one-stop personalised digital service platform, was launched at the end of last year. The HKMA is currently working with the Office of the Government Chief Information Officer (OGCIO) to develop the business version of the "iAM Smart" digital authentication platform. It can be used to authenticate the identity of enterprises through an electronic channel. With the wide adoption of "iAM Smart" in various electronic government services, members of the public can choose to obtain their data kept by individual government departments via electronic means, and submit such data electronically when applying for services from financial institutions. In addition, the HKMA has earlier announced the development of "Commercial Data Interchange", which will allow commercial services operators to submit customers' data to financial institutions under the instruction and consent of their corporate customers so as to assist them in the application for services.
45. To promote the LawTech development, I set aside funding in the 2019-20 Budget to support the development of an online dispute resolution and deal making platform by a non-governmental organisation (NGO). With an allocation of $100 million to the project, starting from this year, the platform will roll out negotiation, arbitration, mediation and online training services progressively and develop other services such as e-translation and smart contract in phases. This year, the Government will actively explore the development of the Hong Kong Legal Cloud, in order to sharpen Hong Kong's edge and raise our status in the provision of professional legal services.
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