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Hong Kong Poised for E-commerce Boom in 2000

Strategic Insights

— 1 min read

As the year 2000 begins, Hong Kong is on the cusp of an e-commerce revolution, driven by advancements in technology and a supportive government framework. Recent seminars on e-commerce have shifted from discussing the benefits to concentrating on implementation, the latest technologies, and business models. The establishment of local certification authorities, the Electronic Transactions Bill, and the launch of Electronic Service Delivery by the Hong Kong SAR Government have set the stage for users to conduct business transactions over the Internet.

Key Takeaways:

  • The atmosphere and technology in Hong Kong are ripe for e-commerce to take off in the second half of 2000, with seminars focusing on implementation and business models.
  • The establishment of local certification authorities, the Electronic Transactions Bill, and Electronic Service Delivery by the Hong Kong SAR Government will facilitate online transactions.
  • Security concerns are being addressed through the availability of Public Key Infrastructure (PKI), but educating the public on its benefits is crucial.
  • Smart cards will play a significant role in securing private keys and providing multiple functions, making them more secure than traditional storage methods.
  • Mobile e-commerce will be driven by second slot mobile phones, WAP phones, and increased wireless speeds, with end-to-end secure WAP connections becoming available in late 2000.
  • Electronic fraud is expected to increase in the near term, but proper precautions and systems can mitigate its impact.
  • Hong Kong's unique situation, investment funds, and telecommunication infrastructure make it an ideal hub for information services in South East Asia and a gateway to China.

Statistics:

  • Wireless Application Protocol (WAP) phones will play a significant role in encouraging mobile e-commerce, with end-to-end secure WAP connections becoming available in late 2000.
  • Wireless speeds will increase with General Packet Radio System (GPRS) in the summer of 2000, reaching 50-100 Kbps.
  • Third generation wireless networks offering megabytes per second will become available in a few years, enabling more complex mobile e-commerce applications.

Sources:

  • "HONG KONG, CHINA, 2000 JAN 10 (NB)" (Newsbytes.com)

http://www.newsbytes.com ( 200000110/WIRES ASIA, ONLINE/)

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