Following is the speech by the Financial Secretary, Mr Paul Chan, at Lenovo Tech World '26 Hong Kong today (March 10):

Ken (Executive Vice President of Lenovo and the President of Lenovo Solutions & Services Group, Mr Ken Wong), distinguished guests, ladies and gentlemen,

     Good morning. It is my pleasure to join you today at Lenovo Tech World 2026 Hong Kong. Let me first extend a very warm welcome to the brightest minds in technology coming from Hong Kong, across the region and around the world.

     Just now, Ken shared very insightful remarks on the technology that is transforming today and defining tomorrow: artificial intelligence. AI is developing at a breathtaking pace, faster than many of us have anticipated. It is already reshaping every industry and every walk of life, from personal applications to business enterprises and the public sector, and from retail and financial services to manufacturing. 

     Many of us were also captivated by the spectacular robotic performance at this year’s CCTV (China Central Television) Spring Festival Gala. It offered a vivid glimpse into the promise of embodied intelligence, whether in our homes, our hospitals, or on our factory floors. This combination of AI and robotics is giving us unprecedented tools to build a more promising economy.

     AI can and should serve very noble purposes, not least in tackling climate change. For instance, the International Energy Agency estimates that deploying AI to optimise industrial processes alone could save energy equivalent to more than the energy consumption by Mexico. At the same time, we must recognise the concerns it brings: the impact on jobs, as well as scams and misinformation created or amplified by AI.

     Here, I am reminded of a simple truth: we never stop sailing the seas simply because of storms. Human progress has always advanced through exploration, overcoming setbacks along the way. Every major economy now recognises the strategic importance of AI. It is an unstoppable wave, and our choice is not whether to face it, but how. We must therefore embrace AI with confidence and care.

     China, our country, for example, has placed strong emphasis on "AI+" In the National 15th Five-Year Plan, it stresses that AI should be used to empower economic and social development and enhance governance capabilities, promoting deep transformations in modes of production and enabling revolutionary leaps in productivity. This is about embedding AI across different sectors of the real economy, and using it as a catalyst for long-term, sustainable and high-quality development.

     Here in Hong Kong, we share exactly the same vision. Hong Kong has unique advantages in developing AI. Under the "one country, two systems" framework, Hong Kong continues to enjoy the free flow of capital, information and talent, backed by robust rule of law and strong protection of intellectual property. Three of our universities are among the world's top 20 in AI and data science, with another two among the top 50. We are the convergence point for Mainland and international data, and we attract talent from around the globe. Hong Kong, together with the Greater Bay Area, is where high-end manufacturing capabilities and cutting-edge technologies simultaneously reside. 

     For AI developers, innovators and businesses, Hong Kong is the place to be. 

     Building on these strengths, we are adopting a twin-track approach. We are developing AI as a strategic industry in its own right, and we are also harnessing AI as a powerful enabler across the economy. We call this "AI+".

     This is a process that must be accelerated. That is why, in the Budget I delivered two weeks ago, we announced the establishment of the Committee on AI+ and Industry Development Strategy. Its mission is to bring together experts from the academia, business sector, and our science and technology parks, to map out how AI can be more deeply integrated into different sectors and industries. Our initial focus is on health technology and embodied intelligence.

     In health technology, AI is already creating enormous benefits. It is helping scientists predict molecular structures, accelerate drug discovery and strengthen clinical research. It may also transform clinical trials and care through approaches such as digital twins. Health tech is a natural area of strength for Hong Kong, given our world-class medical professionals, schools and healthcare institutions.

     For embodied intelligence, we are seeing rapid advances and increasingly mature applications. Hong Kong's dense and complex urban environment provides an ideal test bed for smart mobility, logistics and service robots. Solutions proven here, where safety and reliability standards are world-class, will be well placed to scale to other cities around the world.

     Yet technology is only one side of the story. At the heart of innovation are people. Our greatest asset is talent, and talent recruitment and development lie at the centre of our strategy. We are investing in education to build AI literacy, ensuring that our young people acquire the skills required for the jobs of tomorrow. Equally important is upskilling our workforce to help them adapt as the nature of work evolves. That is why, in the Budget, we proposed an "AI Training for All" initiative to enhance AI training and education for students, the working population and the wider community. Our goal is to strengthen AI readiness across the society, so that our people and businesses can stay competitive in a fast-changing economy.  

     For all these initiatives, we look to partners like Lenovo to join hands with us. Innovation thrives only in an ecosystem where government, academia and industry work closely together. Lenovo's deep strengths in AI, and its experience in deploying AI solutions across industries, can provide valuable support to Hong Kong's efforts.

     This event today is a splendid example of that ecosystem in action. It brings together global enterprises, innovative start-ups and leading academic institutions. By connecting ideas with real-world use cases, it will help accelerate the practical application of AI so that it addresses challenges and delivers tangible benefits to businesses and communities.

     As we move forward, we must also remember that technology must ultimately serve the society as a whole. It is vital that AI and robotics are developed and deployed responsibly, with transparency, fairness and respect for privacy and human dignity. The Hong Kong SAR (Special Administrative Region) Government has begun work on new frameworks for AI governance, including in financial services. As new technologies and applications emerge, we will continue to refine our policies and regulatory approaches in close dialogue with stakeholders at home and abroad.

     Ladies and gentlemen, I would like to thank Lenovo for hosting this meaningful event and for providing a valuable platform for sharing knowledge and experience, as well as fostering collaboration. I would also like to thank all participants here for your dedication to advancing technology and your willingness to share experiences and expertise.

     Let us seize this moment, keep pushing boundaries, and build a future where technology empowers everyone. Thank you very much.

Ends/Tuesday, March 10, 2026
Issued at HKT 12:12

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