New technologies may be crucial to the future of Hong Kong manufacturing industries, but they are only one ingredient of the recipe required to enhance industrial development.
That is the pragmatic message from Lily Chiang, who serves on the AITC '99 Presidium alongside Professor Poon Chung-kwong (President of the Hong Kong Polytechnic University) and Francis Lo (Director-General of Industry).
Ms Chiang is executive director of Chen Hsong Holdings.
'Of course, I believe technological advancements are important. Without keeping up with the latest technological innovations [company] improvements would be very difficult, if not impossible,' she said.
'Technology enables companies to improve their products, their efficiency and competitiveness in the global market.' Ms Chiang said technology it self was only a driving force. The crucial factor was utilising technology to create new business applications and to enable companies to update their business model.
'This is more important than technology itself,' she said. 'Many people in Hong Kong still believe technology is the answer. But it's only an ingredient to achieving new business models.
'I often explain it this way, by likening it to a volcanic explosion. Technology is the crack in the mountain that allows the lava to flow out, but it is business applications that cause the explosion.' Ms Chiang speaks from personal experience. The Chen Hsong group of companies was founded in 1958 by her father, Chiang Chen, who still serves as group chairman.
