Hong Kong Financial Secretary Paul Chan, speaking at the Asian Infrastructure Investment Bank (AIIB) Board of Governors 2026 Annual Meeting in Doha, Qatar, said Hong Kong is committed to strengthening connectivity and accessibility of public and private services.
The mobile digital identity platform "iAM Smart" allows citizens to use tax filing, health record access, and other services under a single identity, and now supports over 1,400 online services provided by government, public, and private organizations.
The Hong Kong government will continue to expand the platform's services and plans to launch a "Digital Corporate Identity" platform before the end of this year, extending services to enterprises.
He stated that in addition to connecting citizens with opportunities, digital connectivity can also help citizens conveniently access services and enable enterprises to expand markets and obtain financing.
Digital public infrastructure can connect identity, financial, and other data on the same shared platform, facilitate payments, reduce duplicate data submissions by citizens and enterprises, and enhance service efficiency and inclusivity.
Chan said advancing digital services cannot focus solely on technical compatibility; it also requires early consensus among government departments and enterprises, establishment of common standards, designing services around user needs, and coordinating implementation timelines.
On financial infrastructure, he noted that the Faster Payment System (FPS) connects banks and e-wallets, providing around-the-clock real-time transfer services, with average daily transaction volume reaching USD 2 billion by the end of last year, and has supported cross-border payments through connection with Thailand's PromptPay.
Hong Kong's stored value payment instrument accounts exceed 90 million, an increase of nearly 50% compared to 2022.
The Hong Kong Monetary Authority's "Commercial Data Interchange" securely connects banks and commercial data providers with customer consent, helping banks assess SME creditworthiness; as of June this year, over 100,000 loan applications have been completed using the platform, involving a total amount exceeding USD 11 billion.
The "CargoX" project also helps banks verify transactions and provide trade financing by obtaining freight and trade data more quickly.
Chan stated that artificial intelligence can enhance productivity and public service quality. The Hong Kong government is promoting AI applications and process re-engineering through the AI Efficiency Enhancement Group, and developing a data facility cluster in Sha Ling of the Northern Metropolis that balances energy efficiency and lower carbon emissions.
The Hong Kong government has launched an AI subsidy scheme to support eligible research institutions, startups, and commercial organizations, and has also established an AI sandbox in the financial sector covering banking, securities, wealth management, insurance, and retirement protection.
He emphasized that the development of AI and data sharing must be grounded in cybersecurity, privacy protection, and effective risk governance.
Hong Kong's critical infrastructure protection legislation took effect in January this year, and the "Authorized Data Exchange Gateway" has facilitated over 62 million data exchanges to date.
The Hong Kong government will also formulate AI guidelines and governance frameworks for different sectors and review whether existing legislation can properly address liability issues arising from AI-related harm, enabling society to share the opportunities brought by digital innovation under safety and trust.
Comments