Last week I received an invitation letter from a policy group in Hong Kong.

“I would like to invite you to a roundtable on 11 June to share views on how to drive the development of Hong Kong’s technology-based and creative industries.

In view of Hong Kong’s high cost base and the evolving global economy, we can no longer depend solely on traditional pillars. To broaden our economic structure and sustain our economic growth, Hong Kong must boost technology-based creative industries (in the broad sense – not confined to manufacturing industries).

The success of the most high-value added creative industries often requires a combination of culture and technology. For years, local small and medium enterprises (SMEs) have been striving hard to develop new products based on innovation and technology despite countless obstacles. Hong Kong has great potential in various areas including digital entertainment, communication technological applications and data center services, but support from the government has been inadequate. Some members of the technology sector have mentioned that tax relief for research and development would be helpful. Some have reflected that support for intellectual property (IP) management and commercialization has to be enhanced.

The government has proposed the setting up of CreateHK dedicated to the development of creative industries. Views of the industries are crucial to developing a new economic strategy. It is time for us to take stock of our strengths and draw up a wish list which we could pursue with the government. I would like to invite you to the roundtable to discuss:

(1) what technology-based services and products Hong Kong has a competitive edge in providing;

(2) what facilities and policies are needed; and

(3) how to provide incentives for IP creation and enhance support for IP management and commercialization.”

Personally I am neutral to such kind of policy.

“(1) what technology-based services and products Hong Kong has a competitive edge in providing;” This question is too funny! I dunno how the guys can give you a solid answer. The simpliest answer is….please check any global brands of the technology products are “made in Hong Kong”. If “NO”, then next question is….how can the people commericalize a research project into a product? It’s a very difficult to do that. Honestly I personally think this question should come from an investor or entrepreneurs instead of a policy group. “Hong Kong has a competitive edge in providing” If Hong Kong has already had such advantages, this product would have come without your notification.

“…(2) what facilities and policies are needed; and…” Lower tax rate. But it cannot help a lot. Coz most startup companies (regardless of industry) keep losing money. Since they lose money, they don’t need to pay tax in Hong Kong.

“…(3) how to provide incentives for IP creation and enhance support for IP management and commercialization…..” The government (Sir Donald Tsang) should understand how to respect the brand of “Made in Hong Kong”. Second, it’s a very common character of Hong Kong people - seeking for quick money and fast result. You can find this character in the top executives of Hong Kong government easily. I cannot believe Hong Kong can develop a well-structure technology industry herself.

Tags: Donald Tsang, Hong Kong