Hong · Fortune Technology
Late last year, Alibaba and Ant acquired 13 of the 24 floors of a Causeway Bay office tower
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The city can generate substantial value from cultivating AI-adjacent industries, such as risk and insurance advisory services for Chinese founders who hope to navigate complex regulatory and policy environments abroad, or who need legal and compliance support in tapping Hong Kong’s robust patent law system.
Key facts
- Late last year, Alibaba and Ant bought 13 of the 24 floors of a Causeway Bay office tower, positioning Hong Kong as their base for international expansion
- The city topped the global IPO charts last year, for the first time in six years, after raising a whopping $34.3 billion in funds
- But that should be easy for a city that boasts five of the world’s top 100 universities, three of which rank in the top 30 for AI specifically
- AI threatens to widen the gap between the Global North and the Global South and amplify disagreements between East and West
Summary
The past two years have been nothing short of extraordinary when it comes to the surge in investor confidence in China’s AI sector. It’s clear what locations are shaping China’s AI landscape: Shenzhen, Hangzhou and Beijing, for example. Hong Kong, of course, already has a role as a financing hub. But there’s more to Hong Kong than finance and venture capital.