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Digital Transformationi

The Digital Transformation Series will examine the many factors driving businesses to seek digital solutions for their organisations — from consumer behavior, shifting market conditions, evolving economies, regulatory laws and increased competition — to the technologies that will lead the digital charge in the coming decades, including 5G, cybersecurity, artificial intelligence, cloud computing and automation. The series will dive deep into exploring the future of digital transformation in business and the crucial steps that leading executives must learn in guiding the future development and implementation of these technologies.

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Getting to grips with technology requires understanding, experience and confidence, especially for the elderly and less tech-capable. The shift will take time, effort and trained staff.

E-commerce giant Alibaba is expected to provide Tianjin with highly efficient computing resources at a lower cost to support the city’s various hi-tech development initiatives.

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Some 16 companies – including the three note-issuing banks HSBC, Standard Chartered and BOCHK – will put the e-HKD through its paces, paving the way for a virtual coin the public can use to shop, dine out and make money transfers.

The fintech giant is expected to advance Hangzhou’s digital transformation, while also helping the city stage major international events like the 2023 Asian Games.

‘There is a possibility that [Japan] is being targeted as the host of the G7 summit, and we have warned relevant organisations to stay alert,’ an official said.

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China’s government is being urged to rethink the way it calculates key economic indicators, such as gross domestic product and the unemployment rate, to ensure they are appropriate for the modern digital economy.

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Young Chinese are increasingly embracing convenient on-demand home services – from manicures to personal chefs – a phenomenon reflected in surging advertisements on social media.

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Henan, home to the world’s largest iPhone factory, expects this initiative to help move its industries up the value chain, advancing beyond labour-intensive manufacturing activities.

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Merchants using Alipay+ reached 2.5 million as of November, helping expand digital transactions in markets that include Japan, South Korea, Singapore, the Philippines, Malaysia and Thailand.

The Alibaba subsidiary’s lengthy system failure in Hong Kong, with disruptions at some user sites stretching to more than 24 hours, shows that cloud services providers cannot guarantee zero incidents.

Security token offerings (STOs) could ‘revolutionise’ the way developers raise capital to fund their projects, providing a shot in the arm for the property markets of Hong Kong and the Greater Bay Area, according to a report published on Tuesday.

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Warburg Pincus is making the biggest splash in a general insurance platform in Asean by seeding Oona Insurance to disrupt the market controlled by AIA, Prudential and Allianz.

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Readers discuss the importance of hard targets in a city’s digital transformation, how alcohol is a gateway substance, and why, now more than ever, helpers should not be denied permanent resident status.

The Hong Kong Monetary Authority is set to launch a new online data platform that will allow many struggling small businesses to get the funds they need, according to its chief executive.

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The city’s de facto central bank will start testing out a digital coin called the e-HKD, paving the way for a virtual currency the public can use in the future to shop, dine out and make money transfers.

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Their recent collapse shows that stablecoins are ill-equipped as a form of money, and central banks are better placed to run digital payments, says the Asia-Pacific chief of the Bank of International Settlements.

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Increased smartphone penetration among city’s older population mainly due to mandatory use of ‘Leave Home Safe’ app to enter premises, experts and social workers say.