Hong Kong Achieves Status Of 'Knowledge Economy'

by Mary Swire, Tax-News.com, Hong Kong

31 July 2007

Hong Kong has achieved improvements on many of the characteristics of a knowledge-based economy, according to a report by the SAR government's Census and Statistics Department.

The report, 'Hong Kong as a Knowledge-based Economy - A Statistical Perspective (2007 Edition),' published last week, said the city has excellent information and communication technology infrastructure and a steady growing trend in the adoption of information technology.

The report concluded that Hong Kong people are increasingly equipped in knowledge and skills and that the city's favourable business environment provides businesses with confidence, and research and development activities have been gaining momentum in recent years.

The publication presents statistical indicators to help portray the development of Hong Kong from different perspectives of a knowledge-based economy.

It incorporates from a variety of sources statistical indicators relevant to the development of a knowledge-based economy in the last decade and presents them in the form of graphical presentation and short descriptions for easy comparison.

An analytical framework encompassing a suite of statistical indicators grouped into the following four dimensions is adopted:

• information and communication technology - indicators to reflect the efficiency and effectiveness of knowledge and information distribution and application in the economy;
• human resources development - indicators to reflect the quantity and quality of individuals equipped for access to and use of knowledge and information for further production, creation or distribution of knowledge and information in the economy;
• innovation system - indicators to reflect the quantity, quality and rate of knowledge and information production, creation or application in the economy; and,
• business environment - indicators to reflect a business environment conducive to the production, creation, distribution or application of knowledge and information in the economy.

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