Hong Kong Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in Hong Kong, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals.
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ICT & Digitalization
Last published date:

Overview 

Table: ICT & Digital Trade: U.S.- HK Imports and Exports and Exchange Rates 

 

2020 

2021 

2022

2023

2024

Total Imports 

168,075 

83,816 

85,576

88,320

91,650

Total Exports 

153,094 

78,970 

80,786

84,950

89,450

Imports from U.S. 

2,029 

1,035 

993

1,120

1,180

Exchange Rates 

7.8 

7.8 

7.8

7.8

7.8

Units: US$ million 
Data Source: Hong Kong Census & Statistics Department 
(Since there is not an agreed upon definition of “smart cities”, and because there is considerable overlap regarding features from various types of machinery and products, market statistics for this sector are, at best, rough approximations.)

Hong Kong has a world-class information technology (IT) network infrastructure, and its telecommunications sector remains open, with no restrictions on foreign ownership or limits on the number of market operators. As of early 2025, Hong Kong had approximately 17.4 million mobile cellular connections, equivalent to 235% of its total population. The median fixed internet download speed was 305.71 Mbps, while the median mobile internet download speed reached 82.51 Mbps. Since March 1, 2022, Hong Kong has fully implemented a real-name registration requirement for all SIM cards, requiring users to authenticate their identity before activation, in accordance with the Telecommunications (Registration of SIM Cards) Regulation.

The Hong Kong government continues to invest heavily in IT infrastructure and innovation. In 2025, it launched a HK$10 billion Innovation and Technology Industry-Oriented Fund to attract private capital into strategic emerging industries such as AI, biotech, and advanced manufacturing. Key government bodies supporting enterprise innovation include the Innovation and Technology Fund (itf.gov.hk), the Office of the Government Chief Information Officer (ogcio.gov.hk), and the Hong Kong Productivity Council (hkpc.org). 

The Hong Kong Science and Technology Parks (HKSTP) remains the city’s largest R&D base, supporting over 2,200 tech companies and 15,000 R&D professionals. In 2025, HKSTP expanded its footprint with new facilities in the San Tin Technopole and Hetao Co-operation Zone and launched pilot production lines for microelectronics and smart pharmaceutical manufacturing. Cyberport, a government-owned innovation hub, has also expanded with the launch of Cyberport 5, a 10-storey smart building equipped with next-generation digital infrastructure. Cyberport now supports over 2,200 start-ups and tech companies, including more than 400 AI firms, and houses the AI Supercomputing Centre.

Hong Kong is actively developing its capabilities in Artificial Intelligence (AI) and Robotics. In the 2025-26 Budget, the Financial Secretary announced a HK$1 billion allocation for the establishment of a Hong Kong AI Research and Development Institute to spearhead AI R&D and industrial applications (Digital Policy Office). The government is also progressing with legislation to encourage AI development, including a proposed text and data mining exception in the Copyright Ordinance

Concerns about information security and personal data protection continue to grow in Hong Kong. In response, the government passed the Protection of Critical Information Infrastructures (Computer Systems) Ordinance in March 2025, which went into effect on January 1, 2026. The law imposes mandatory cybersecurity standards on operators of essential services—such as energy, transport, finance, and healthcare, including requirements for risk assessments, incident reporting, and emergency response plans. Non-compliance may result in fines or imprisonment.

At the same time, proposed amendments to the Personal Data (Privacy) Ordinance (PDPO) aim to introduce mandatory data breach notifications, data retention policies, and administrative fines (PCPD Consultation Paper, 2024). These changes would align Hong Kong more closely with global standards like the EU’s General Data Protection Regulation (GDPR). As of mid-2025, the amendments are under review, with a phased rollout being considered. If adopted, businesses will need to strengthen data governance and breach response or risk regulatory and reputational consequences.

Furthermore, the Information and Communications Technology (ICT) sector in Hong Kong is becoming increasingly sensitive due to the evolving dynamics between China and the United States. This geopolitical tension has led to heightened scrutiny and concerns regarding data sovereignty, cybersecurity, and the supply chain of critical technologies. This has resulted in a more complex regulatory landscape and increased pressure on businesses operating in the ICT space to navigate conflicting national interests, potentially impacting foreign investment and the free flow of information.  

The CS Hong Kong team works with a range of U.S.-headquartered ICT companies, many of whom have been in the Hong Kong market for decades. Though opportunities remain, feedback suggests challenges going forward for some U.S. companies active here. There is an indication that some local buyers are leaning towards non-U.S. technology solutions in light of the geopolitical situation. The environment is nuanced, and CS Hong Kong recommends reaching out to our team with any specific questions pertinent to the wide range of technology solutions captured under the ICT industry sector.

Leading Sub-sectors

Digital transformation solutions: Hong Kong businesses are accelerating digital transformation to enhance operational efficiency, customer engagement, and sustainability. Key trends in 2025 include AI-driven automation, low-code development, data analytics, and 5G-powered innovations. Enterprises are investing in hybrid-working technologies such as laptops, monitors, video-conferencing tools, cloud-based collaboration platforms, and virtual desktop infrastructure. With 76% of employees in Hong Kong now working in hybrid models the demand for seamless digital workflows and high-speed broadband has surged. Hong Kong’s fixed broadband speeds rank among the top globally, supporting the city’s ambition to become a leading digital hub.

Software & Services:  Hong Kong companies are increasingly adopting diverse enterprise software to support their hybrid work models and digital operations. There’s a strong demand for Human Resources Management Systems (HRMS) to manage flexible workforces and enhance employee engagement. Customer Relationship Management (CRM) and sales platforms are also used for streamlining sales and improving customer interactions, especially with remote teams. The need for sophisticated accounting software with compliance features has surged due to evolving regulatory environments, ensuring adherence to local and international standards. Beyond these, businesses are investing in collaboration tools, cybersecurity solutions, and cloud-based Enterprise Resource Planning (ERP) systems. 

  • Cloud Computing: The Hong Kong cloud computing market was estimated at US$3.73 billion in 2024, with an anticipated annual growth rate of 9.20% from 2024 to 2032. This growth is partly driven by the increased adoption of hybrid work models and the demand for scalable digital operations. Major global cloud providers are expanding their presence, including investments in AI cloud solutions and hyperscale data centers in Hong Kong.
     
  • 5G Adoption: The Hong Kong government actively encourages 5G deployment. This includes various approaches such as a subsidy scheme to promote early adoption and public education programs [Office of the Communications Authority (Hong Kong Office of the Communications Authority). These initiatives aim to foster a widespread embrace of 5G technology across the region.
     
  • Startup Ecosystem: Hong Kong’s startup ecosystem continued to expand, reaching 4,694 startups in 2024, employing 17,651 individuals (InvestHK 2024 Startup Survey).  The city is home to over 10 unicorn companies— privately held startups valued at over USD 1 billion—with notable FinTech unicorns including HashKey Group, WeLab, Micro Connect, and ZA Group.  The ecosystem is supported by a network of incubators, accelerators, angel investors, and venture capitalists, alongside frequent networking events and seminars. Key sectors for startups include FinTech (619 startups), Information, Computer & Technology (517), E-commerce (410), and EdTech (406), with noteworthy growth in HealthTech and GreenTech. Approximately 28% of startup founders in Hong Kong are non-locals, with the largest share from mainland China, followed by the United Kingdom and the United States.  The government has committed over $10 billion to various innovation and technology policy initiatives, supporting scientific research, infrastructure development, and financial assistance for enterprises (Report on Startup ecosystem in Hong Kong).

Resources  

Hong Kong Trade Shows

  • Hong Kong Computer Society International Computer Conference (HKICC)
    Venue: Hong Kong Convention and Exhibition Centre
  • HKTDC International ICT Expo  
    Venue: Hong Kong Convention and Exhibition Centre
  • RISE Conference 
    Venue: Asia World Expo
  • Global Sources Mobile Electronics Show
    Venue: AsiaWorld-Expo
  • Hong Kong Computer Society International Computer Conference (HKICC)
    Venue: Hong Kong Convention and Exhibition Centre
  • Data Center Asia – Hong Kong
    Venue: AsiaWorld-Expo
  • HKTDC International ICT Expo (InnoEX)
    Venue: Hong Kong Convention and Exhibition Centre

Associations  

  • Hong Kong Computer Society
  • Hong Kong Information Technology Federation Ltd.  
  • Smart City Consortium  
  • Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI)
     

Hong Kong Government Agencies

U.S. Government Agencies 

For more information about this industry sector, please contact:
U.S. Commercial Service, Hong Kong
Boris Meyer, Senior Commercial Specialist 
Email: boris.meyer@trade.gov

 

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