Hong Kong finance chief Paul Chan vows to help 1.8 million firms make payments, use services on enterprise version of iAM Smart
- Financial Secretary Paul Chan says HK$300 million measure to create enterprise version of existing iAM Smart platform will help companies streamline processes
- Firms will be able to sign documents digitally and make payments for government services, among host of other features, on platform expected to launch in 2026
Hong Kong’s finance chief has vowed to help 1.8 million companies make payments or use government services on a new platform as part of efforts to accelerate the development of the digital economy.
“[We have to] enhance digital infrastructure. This includes strengthening the use and coverage of 5G networks, encouraging the development of high-performance computing and data centres, further promoting electronic payments and introducing enterprise digital identities or ‘Corp IDs’,” Chan said in his weekly blog.
The introduction of enterprise digital identities refers to the use of a company-specific version of the government-developed iAM Smart platform, which is expected to launch in 2026.
The existing iAM Smart platform allows residents to use a single digital identity and authentication to make government and commercial transactions online. It also automatically fills in personal details on electronic forms and handles statutory documents and procedures.
Chan further elaborated on the HK$300 million (US$38.3 million) measure to roll out the enterprise version, as highlighted in his February budget blueprint, which aimed to streamline processes and eliminate unnecessary complexities for companies.