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The Hong Kong government signed a memorandum with the Chinese mainland this month to promote data flow in the city. The move is part of Beijing’s plan to turn the Pearl River Delta into a global IT powerhouse. The memorandum will allow data to flow between the two sides and encourage investment in the city’s technology industry. It will also facilitate the development of high-tech applications, including artificial intelligence and blockchain technology.
While the memorandum is an important step, it is just a small part of the overall strategy for the city. The Hong Kong government has also been implementing various initiatives to increase the city’s competitiveness and attract foreign investment. These include creating a new regulatory regime, improving data infrastructure and encouraging innovation in the financial industry. These initiatives should increase the number of investors and create more jobs in the city.
Aside from its financial services, Hong Kong is a leading location for the data center industry. Its proximity and close integration with cities on the Chinese mainland has made it a popular destination for data centers, as they can serve customers in the mainland more easily. The city is expected to continue its growth as demand for computing capacity continues to grow.
One of the biggest challenges for the data center industry is the growing need for storage capacity. This demand has increased dramatically over the past decade, and is predicted to double again by 2024. To meet this demand, many companies are deploying more powerful servers and adding extra storage to existing ones. To ensure that data can be accessed and stored at the highest possible speed, companies are also investing in faster network connections.
The first thing to consider when transferring personal data outside Hong Kong is whether the person has a PDPO. A data user is defined as any person who has operations controlling the collection, holding, processing or use of personal data in, or from, Hong Kong. PDPO requires that a data user obtains the voluntary and express consent of the data subject before he can transfer or use the personal data for a purpose not set out in the PICS.
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