Hong Kong Science and Technology Parks Corporation (HKSTP) and the Institute of Big Data Governance (iBDG) signed an agreement and announced their 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.
Coming after the government’s forming of the new Digital Economy Committee in June 2022, 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 awareness of the adoption of effective data governance. Another key challenge is cross-border data which will be the foundation for a truly integrated Greater Bay Area (GBA).
The two parties are collaborating 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 the Head of STP Platform, HKSTP, and the Founding Chairman, iBDG, was held to identify key principles and success factors for effective data governance, and 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 must 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.
The Chief Corporate Development Officer of HKSTP stated that 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, HKSTP is laying the necessary foundation on a city-wide level, never seen in anywhere else in the world. Defining and adopting robust data governance is an evolving process with ever-changing challenges. The partnership with iBDG will help the data community unlock business opportunities driven by 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. The iBDG Founding Chairman stated that to enable data flow, sound data governance must be built to both protect personal data and 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 under the 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 – will co-organise technical visits, conferences, seminars, workshops and exhibitions, and publish press and media posts to promote awareness of data governance in the Hong Kong industry and R&D ecosystem.
- Training on data collaboration– will formulate and implement a framework for the training of industry practitioners on joining data collaborations with a view to driving professional certification, emphasising the benefits of cross-industry data exchanges and the importance of data governance with reference to data flow regulations and security.
