Several members of the U.S. House of Representatives are calling on the U.S. Department of Commerce to immediately investigate potential import restrictions on additional information and communications technology products from Chinese Mainland.
Advanced telecommunications infrastructure is a crucial cornerstone for Hong Kong's development into a major business hub in the Asia-Pacific region. In the era of e-commerce, the telecommunications industry is particularly vital for enhancing Hong Kong's competitiveness. In 2023, the value-added contribution of Hong Kong's information and communications industry reached HK$102.2 billion, accounting for approximately 3.4% of the city's gross domestic product (GDP).
Hong Kong’s electronics industry is the territory’s largest merchandise export earner, accounting for 72.8% of the city’s total exports in 2024. A substantial portion of this business, largely re-exports, are regarded as high-tech products, especially those related to telecommunications equipment, semiconductors and computer items.
John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), attended the presentation of plaques to 15 State Key Laboratories (SKLs) in Hong Kong by the Minister of Science and Technology, Yin Hejun, on 25 August. This followed a 2018 agreement by the Ministry of Science and Technology that Partner SKLs in Hong Kong paired with SKLs on the Mainland could be renamed SKLs.
Indonesia’s Quick Response Code Indonesian Standard (QRIS) payment system will soon be available in Japan and China, allowing Indonesians to pay for transactions in these countries by scanning QR codes, according to Bank Indonesia (BI). The Japan launch will depend on technical preparations, including sandbox trials in coordination with Japan’s payment authority, with the outbound QRIS set for launch on 17 August 2025.
Payment gateways are essential components of the e-commerce ecosystem, connecting customers, merchants, and market platforms. This is especially important for cross-border e-commerce, which involves transactions in different currencies and between different countries / regions. In an exclusive interview with HKTDC Research, Airwallex’s Head of Sales, SME & Growth, Hong Kong, Nick Chiu discussed the evolution of digital payments and how Airwallex is helping Hong Kong SMEs unlock opportunities in the ASEAN market.
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