Full text of the speech by Hong Kong Chief Executive Carrie Lam at the 2023 Summit on Innovative Technology and Art Development

Speech by Hong Kong Chief Executive Carrie Lam at the 2023 Summit on Innovative Technology and Art Development.

Innovation Technology and Art Development Summit 2023

Full Text of the Chief Executive’s Speech

President Yang Yong, distinguished guests, and friends:

Hello, everyone. I am delighted to participate in the Innovation Technology and Art Development Summit hosted by the Zijing Magazine Society via video.

This summit, themed “Web 3.0 Revisited: Constructing a Golden New Starting Point,” closely aligns with Hong Kong’s development direction in innovative technology, cultural arts, and other areas of growth in the 14th Five-Year Plan.

Hong Kong is embarking on a new journey of governance and development. This summit brings together experts from various industries to provide valuable advice for Hong Kong’s high-quality development, which is timely and essential. I would like to thank Zijing Magazine for organizing this summit and wish it a complete success.

Web 3.0 represents a new direction for the Internet, integrating technologies that have garnered significant attention in recent years. It has the potential to become a driving force for the future development of finance and commerce.

The Hong Kong SAR Government attaches great importance to the development of financial technology and Web 3.0. We have issued policy declarations, clearly stating Hong Kong’s open and inclusive attitude towards innovators engaged in virtual asset businesses worldwide. The government will collaborate with financial regulatory authorities to create a favorable environment and promote the sustainable and responsible development of Hong Kong’s financial industry.

In June of this year, we have already implemented a new licensing regime for virtual asset trading platforms and are actively exploring regulatory arrangements for stablecoins. The government also closely monitors international developments to ensure that Hong Kong’s regulatory requirements are sound and facilitate market development.

Hong Kong is striving to become an international hub for innovative technology and a center for cultural and artistic exchanges between China and the rest of the world. Art and technology is a new development direction that connects culture, arts, and innovative technology.

To actively promote and support the development of art and technology, the SAR Government encourages the application of technology in appropriate projects within the cultural and artistic community through various funds and programs. Funding of over 100 million Hong Kong dollars has been allocated, benefiting a total of 324 art and innovation-related organizations and individuals.

At the same time, the SAR Government continues to enhance the facilities of performing arts venues in line with the development and application of art and technology. The brand new East Kowloon Cultural Centre is expected to open in stages from the end of this year to early next year. The East Kowloon Cultural Centre will be equipped with innovation and technology facilities and will establish an art and technology experimental field to promote the development of art and technology.

In addition, the East Kowloon Cultural Centre Art and Technology Academy will provide systematic training and produce various types of art and technology projects, promoting collaboration between artists and technology professionals, injecting new vitality into the performing arts, and becoming a base for accelerating the combination of “art + technology.”

The government will continue to support the integration of art and innovative technology, and also encourage artists and art groups to make good use of technology, conceive, create, and present unprecedented forms of artistic expression, bringing audiences more innovative artistic experiences.

August 15, 2023 (Tuesday)

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