The GS1 HK Summit 2023 ("the Summit") concluded successfully today. Held at the HK Convention & Exhibition Centre, the event attracted hundreds of cross-industry delegates from Hong Kong and the Greater Bay Area (GBA) joining in-person. Echoing the strong digital economy focus in this year's Policy Address, more than 30 guests speakers discussed hot topics like digital and business transformation, seamless commerce, sustainable development, data intelligence, business opportunity in GBA, etc, and how these support Hong Kong's digital economy.
Themed "Driving Digitalisation and Sustainability for Tomorrow", the Summit was inaugurated by our Guest of Honour, Mr. Lam Sai-hung, Secretary for Transport and Logistics of the HKSAR Government, who delivered the opening address. The Policy Address highlighted that the Government will press ahead to promote the digitalisation of government services and open up more government data to accelerate the development of digital economy, whereas the Action Plan on Modern Logistics Development published soon after heads for similar directions like smart development, modernisation, and green sustainability, promoting high-quality development of the logistics industry.
Mr. Lam said, "Digitalisation has been transforming the marketplace for decades. Take the "Singles' Day" last Saturday as an example, which has evolved into the world's largest annual shopping event. Without the help of digitalisation, our logistics sector would never be able to deliver the right parcels to the right costumers, precisely at the right time, especially considering the enormous volume of transactions amounting to hundreds of billions of Renminbi. The Hong Kong SAR Government takes heed of the inevitable trend and importance of driving digital and business transformation. The Digital Economy Development Committee chaired by the Financial Secretary, is working on a set of astute and forward-looking recommendations to chart the development of Hong Kong's digital economy in various areas.
In the congratulatory message to the GS1 HK Summit by Mr. Paul Chan, the Financial Secretary of the HKSAR Government, it is noted that the size of China's digital economy hit US$ 6.9 trillion in 2022 and accounted for more than 40% of its GDP in 2022, which will continue to drive high-quality economic development and scale new heights for China. From expanding digital infrastructure, connecting platforms and middleware support, to promoting digital transformation, talent development and cross-boundary data flow, Hong Kong spares no efforts in making digitalisation a game changer for everyone, creating values along the supply chain to harness the power of digital economy. He commended that GS1 HK Summit brings a consortium of movers and shakers to connect, brainstorm and incubate ideas that will empower businesses to grow and improve for the benefit of the end-users harnessing the advancement of innovation and technology.
Ms. May Chung, Chairman of GS1 HK Board, highlighted that besides digitalisation, business should also prioritise sustainability, "As consumers and regulatory bodies are increasingly conscious of companies' environmental and social impact, sustainability will become an imperative for businesses in all sectors. Companies that prioritise their sustainability agenda will not only bring in positive changes to the environment and the society, but also enhance business competitiveness and resilience, creating a win-win situation."
Ms. Anna Lin, Chief Executive of GS1 HK, thanked the guest speakers and delegates and offered a few key takeaways, "Digitalisation and smart technology adoption will sustain their momentum across businesses. Companies can start from the basics, by adding a unique digital identity to their products, to enable seamless online and offline commerce. Beyond that, business can use QR codes to provide rich information, including product recycling details, to facilitate recycling and the circular economy. Secondly, data is the key to unlock the opportunities brought by digital economy. By collecting and analysing operational data with market data, executives are enabled to make data-driven business decisions while supporting carbon reduction and energy saving for a sustainable future."
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About GS1 Hong Kong
Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong is the local chapter of GS1®. GS1 Hong Kong's mission is to empower businesses of their digital transformation, improve supply chain visibility and efficiency, ensure product authenticity, facilitate commerce connectivity and enable sustainable value chain through the provision of global supply chain standards (including GTIN & barcodes), and a full spectrum of platforms, solutions and services.
GS1 Hong Kong currently supports close to 8,000 corporate members from 20 sectors including retail & consumer packaged goods, food & beverage and food services, healthcare, apparel & footwear, logistics & ICT. By working closely with communities of trading partners, industry organizations, government, and technology providers, we can foster a collaborative ecosystem, paving the way for "Smarter Business, Better Life".
As a non-profit organization, GS1 develops and drives global adoption of supply chain standards. Headquartered in Brussels, Belgium, GS1 has over 115 national chapters in 150 countries.