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The Government welcomed the findings of a report released by Google Hong Kong today (May 4) on the contribution of the Internet to Hong Kong's economic vitality, saying that it has reaffirmed Hong Kong's position as a leading digital city in the world.
The report reveals a vibrant Internet economy in Hong Kong worth 5.9%, or approximately HK$96 billion, of Hong Kong's gross domestic product (GDP) in 2009. One-third of Hong Kong's Internet economy is contributed by consumption, another third by net exports of e-commerce and Internet-related hardware, and the rest by Government and private investment in Internet-related goods and services. Hong Kong's Internet economy is expected to reach HK$146 billion and 7% of GDP by 2015, driven by growth in mobile and online shopping.
The report also noted that as a result of strong Government investment in infrastructure and an open Internet policy which allows the free flow of information across industries like finance and import/export, the Internet has strengthened Hong Kong's position as a global trading hub. In addition, the vast majority of small and medium-sized enterprises that actively use the Internet achieved higher sales. According to the report, Hong Kong's average broadband speed is one of the fastest in the world, with broadband penetration ranking sixth worldwide.
"These are strong indicators of the vibrancy of Hong Kong's digital economy and a recognition of Government investment and liberalisation policy in our Internet infrastructure, enabling extensive use of the Internet in key sectors of Hong Kong's economy," the Government Chief Information Officer, Mr Stephen Mak, said.
Mr Mak said facilitating a digital economy is a vital part of the Government's Digital 21 Strategy, which sets out the blueprint for Hong Kong's information and communications technology development.
"We are committed to facilitating the development of e-commerce, data centres and the use of the Internet in delivering public services and bridging the digital divide. We will continue to play our role to ensure that the Internet is a robust, secure, fair and accessible platform for exchanging information, generating innovative ideas and doing business," he said.
Ends/Wednesday, May 4, 2011
Issued at HKT 16:54
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