(Hong Kong, 13 December 2022) – Hong Kong Science and Technology Parks Corporation (HKSTP) and the Institute of Big Data Governance (iBDG) today launched a partnership agreement signing ceremony and announced its collaboration in driving cross-industry data governance in Hong Kong, which will facilitate and protect the critical data flow and integration to propel a thriving digital economy.
Following the government’s forming of the new Digital Economy Committee in June this year, data has been identified as vital in building up the city’s data services industry and fostering the digitalisation of industry and government. For Hong Kong to realise its ambitions such as building a truly smart city or promoting the AI and data-centric industries to spark new growth, the industry needs to raise the awareness on adoption of effective data governance. Another key challenge is cross-border data which will be the foundation for a truly integrated the Greater Bay Area (GBA).
HKSTP and iBDG are joining forces to drive strategic initiatives that ensure data is usable, accessible and protected so that businesses and industries can operate seamlessly in the emerging digital economy. To kick off the partnership, a Data Governance Workshop, hosted by Dr Crystal Fok, Head of STP Platform, HKSTP, and Ir Allen Yeung, Founding Chairman, iBDG, was held to identify key principles and success factors for effective data governance, and also explore data collaboration opportunities across Hong Kong, GBA and beyond. This first collaboration will pave the way for certifying industry professionals in the field of data governance. The partnership will also form a working group of professionals from different industries to explore and establish internationally-relevant best practices and standards in data governance.
For Hong Kong to become an international data hub, the city also needs to proactively prepare to meet both Mainland and international standards, laws and regulations in data governance so that global businesses can operate with confidence in the region. HKSTP and iBDG will work closely on a cross-border data feasibility study to help develop a data governance framework to support the data flow. The results from the study will be released to the public for further input from the business community to help guide and formulate relevant policies and industry practices.
Eugene Hsia, Chief Corporate Development Officer, HKSTP, said, “Data is the new oil. Data is the fundamental building block of any new technology, of any innovation, of any modern businesses, and most of all, the driver of the future economy. With Hong Kong fast becoming the data hub in Asia, we are laying the necessary foundation on a city-wide level, never before seen in anywhere else in the world. Defining and adopting robust data governance is an evolving process with ever-changing challenges. Today’s partnership with iBDG to get the data community ready to unlock business opportunities driven by data is our primary objective. We are brimming with hope as we make meaningful changes to supercharge our data community to realize the true value of data.”
iBDG is a non-profit platform that aims to build Hong Kong as an international data hub and promote good self-governance for the big data industry. Ir Allen Yeung, Founding Chairman, iBDG, said, “In order to enable data flow, we must build a sound data governance, not only to protect personal data, but to ensure data are shared under a trusted framework.”
The collaboration will establish a programme of activities to raise public awareness and educate the market on data governance so that businesses and individuals are prepared to manage data and operate in ways to facilitate the transformation to the digital economy.
Summary of key initiatives in the HKSTP-iBDG partnership:
Feasibility study for cross-border data flow – HKSTP and iBDG will work closely on researching a data governance framework to support cross-border data flow, with reference to international standards, applicable laws and regulations, by forming a working group of professionals from different industries in data governance.
Promotion of data collaboration and data governance – we will co-organise technical visits, conferences, seminars, workshops and exhibitions, and publish press and media posts to promote awareness of data governance in Hong Kong industry and R&D ecosystem.
Training on data collaboration – we will formulate and implement a framework for training of industry practitioners on joining data collaborations with a view to drive professional certification, emphasising the benefits of cross-industry data exchanges and importance of data governance with reference to data flow regulations and security.
