[Hong Kong, 7 June 2016] Hong Kong Applied Science and Technology Research Institute (ASTRI) today urged Hong Kong to boost its investment in research and development so that the territory will not be lagged behind in the upcoming 5G communications environment.

ASTRI Chairman Mr. Wong Ming-yam, BBS, JP, said, “Hong Kong is a vibrant city by all standards, but we still have a lot of catching up to do. In 2014, the city’s R&D expenditure accounted for only 0.74% of GDP, while the figure was 2.05% in China, 2% in Singapore, 3.58% in Japan, and 4.29% in South Korea. We need to invest more in R&D and attract more global technology talent.”

He was speaking at the opening ceremony of the EmTech Hong Kong, a 2-day global conference organized by MIT Technology Review on emerging technologies. In the event, ASTRI experts talked about the significance of its R&D projects to different industries and the future of Hong Kong.

“As the designated ICT research centre in Hong Kong, ASTRI has been working on a series of research projects, spanning from Next Generation Network, Cyber Security, Intelligence manufacturing to Machine Learning technologies. The application of these technologies will not only help transform Hong Kong into a smarter city but also enhance its competitiveness in the future,” said Dr. Meikei Ieong, Chief Technology Officer of ASTRI.

“One of ASTRI’s key research areas is the blockchain technology, which is a secure, reliable and trustworthy distributed database using state-of-the-art cryptography and computer science technologies. This technology is already bringing major impacts on the currency and payment systems, digital rights management and health record management etc. This is going to change the face of business for many industries,” said Dr. Duncan Wong, ASTRI Director of Security and Data Sciences.

ASTRI is the host partner of EmTech Hong Kong. With the theme of “The Future of Technology. Today.” The conference was inaugurated today by the Hon. John Tsang, Financial Secretary of the HKSAR Government and is joined by innovators and leading companies around the world.

Mr. Wong Ming-yam, BBS, JP, Chairman of ASTRI, delivers opening remarks.

Dr. Meikei Ieong, Chief Technology Officer of ASTRI, shares ASTRI’s research on a series of technologies which will enable the world to become smarter.