Chan vows to enhance copyright protection amid AI threat

Authorities will review the Copyright Ordinance to provide appropriate copyright protection amid the development of artificial intelligence so as to maintain Hong Kong's status as an intellectual property trading hub, said Financial Secretary Paul Chan Mo-po.

Consultation would be conducted within the year, Chan added.

After communicating with technology firms that have set up business in the city, he said one of the main reasons that attracted them to the SAR is the legal system, professional service and robust protection of intellectual property rights.

"Consolidating and enhancing the intellectual property protection system, and promoting the management, commercialization and trade of intellectual property will enable Hong Kong to leverage its advantages and thrive in the high-value-added segments of the entire innovation and technology industry chain," Chan said.

To further strengthen Hong Kong's system of intellectual property protection, Chan said the Trade Development Council is working on the enhancement of the Asia IP Exchange online platform to include content on creative intellectual property and launch it on a pilot basis within the year.

In addition, the bill to implement the "patent box" tax incentive, which will substantially reduce the tax rate for profits derived from qualifying intellectual property from the current 16.5 percent to 5 percent, will be tabled at the Legislative Council for first reading on Wednesday, and the legislative work will be completed as early as possible.

Chan also said the government will promote exchanges and cooperation in different intellectual property domains with other cities in the Greater Bay Area.

"This includes facilitating cross-boundary applications for registration and protection of various intellectual property rights, and promoting Hong Kong's intellectual property professional services to support local enterprises in intellectual property trading."

stacy.shi@singtaonewscorp.com