Representatives from Cyberport and Huawei Cloud sign a memorandum of understanding on Feb 7, 2024 to support the development of artificial intelligence and Web3 in Hong Kong. (PROVIDED TO CHINA DAILY)
Hong Kong Cyberport and Huawei Cloud signed a memorandum of understanding on Wednesday, with the aim of propelling the city’s development in artificial intelligence and Web3 while promoting the growth and digitalization of its innovation and technology ecosystem.
Over the three-year collaboration, both sides will join forces to forge a Web3 Industry Cloud platform and technology chain so as to furnish local startups with the infrastructure they need, facilitate the popularization of Web3 technologies, and support initiatives such as the Web3 PoC (proof of concept) Subsidy Scheme.
Cyberport and Huawei Cloud will also nurture a talent pool for the innovation and technology sector through an array of programs, including training, competitions, workshops and seminars in the fields of AI and Web3.
Leveraging Huawei’s independent innovation, Ascend Cloud Services will debut in Hong Kong in the first quarter of this year, providing local businesses with large-scale, cost-effective and efficient intelligent computing power.
Simon Chan Sai-ming, chairman of Hong Kong Cyberport Management Company, delivers a speech at the signing ceremony of the memorandum of understanding between Cyberport and Huawei Cloud on Feb 7, 2024. (PROVIDED TO CHINA DAILY)
“Cloud services are crucial for digital transformation, as their powerful computing and storage capabilities as well as security have facilitated the analysis, collaboration and sharing of data, ushering in more efficient and intelligent modes of production and operation,” said Simon Chan Sai-ming, chairman of Hong Kong Cyberport Management Company.
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“The fusion of Huawei Cloud’s prowess with the technology and innovation ecosystem at the Cyberport will create the ‘one plus one greater than two’ effect,” Chan added, saying that the partnership is poised to advance the digitalization of various industries in Hong Kong, and yield economic benefits for the city.
Jacqueline Shi, president of Huawei Cloud global marketing and sales service, delivers a speech at the signing ceremony of the memorandum of understanding between Cyberport and Huawei Cloud on Feb 7, 2024. (PROVIDED TO CHINA DAILY)
“With this agreement in place, we will mobilize dedicated teams and allocate specialized resources to expedite the implementation of our new initiatives in Hong Kong,” said Jacqueline Shi, president of Huawei Cloud global marketing and sales services.
In his address, Sun Dong, secretary for innovation, technology and industry, highlighted the SAR government’s efforts in attracting a slew of high-profile enterprises to develop in Hong Kong over the past year, including industry leaders from the Chinese mainland.
Sun said that when assessing which firms to bring to Hong Kong, the government considers several factors, including a company’s technology capabilities, its ability to create job opportunities in Hong Kong, its potential contribution to the city’s economic development, and whether it can make large-scale investments in Hong Kong.
Sun Dong, secretary for innovation, technology and industry, delivers a speech at the signing ceremony of the memorandum of understanding between Cyberport and Huawei Cloud on Feb 7, 2024. (PROVIDED TO CHINA DAILY)
Huawei Cloud, as a cloud computing platform under Huawei, has supported more than 20 Hong Kong-based Web3 companies in the adoption of innovative technologies since its foray into the Web3 industry in April 2023, and has collaborated with key players in the financial, logistics and retail industries to make digital banking services, intelligent logistics and intelligent retail practices a reality.
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Huawei Cloud will continue to deepen its cooperation with Cyberport as well as other Hong Kong institutions and enterprises in three key areas — facilitating the development of AI and Web3 infrastructure, supporting mainland enterprises in their global expansion, and fostering the growth of startups, Shi added.
