GS1 Hong Kong Summit 2022 The Future is Now: Enabling Growth through “IDD” (Innovation, Disruption, Digital Transformation)

HONG KONG SAR – Media OutReach – 15 November 2022 – The GS1 HK Summit 2022 (“the Summit”) was held successfully today at the HK Convention & Exhibition Centre attracting more than 1,000 cross-industry delegates from Hong Kong and the Greater Bay Area (GBA) joining in-person and online. The Summit welcomes over 30 business leaders from sectors covering retail, F&B, property development, professional services, technology, financial services, to explore hot topics about sustainable value chain, digital trade finance, digital retail, metaverse, smart operations, trading in GBA, crisis and opportunities in F&B, etc.

Themed “The Future is Now: Enabling Growth through ‘IDD'”, the Summit was inaugurated by Guest of Honour Mr. Michael Wong, Acting Financial Secretary of the HKSAR Government, who delivered the opening address. He noted that the National 14^th Five-Year Plan indicates clear support for Hong Kong’s development into an international I&T hub, and the HKSAR Government has set forth forward-looking initiatives in terms of land development, promoting R&D, strengthening talent pool and more to complement. Examples include developing the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) in the Lok Ma Chau Loop, or initiating Digital Economy Development Committee (DEDC) to tap into the counsel of experts for high-quality digital industry development.

He believed that with cross-industry stakeholders gathered at today’s Summit for meaningful exchange on innovation and technology development, it would help foster business collaborations in a big way.

Ms. May Chung, Vice-chairman of GS1 Hong Kong said in her welcome address that even as the pandemic-induced disruptions remain, there are opportunities within the crisis. She added that the 3 next big developments and focus of GS1 HK are vital to merchants embracing the changes and opportunities in the digital era, including 1QR, a QR code that connects consumers to diverse information covering product specification, benefits, nutrient value, authentication and traceability information; digital trade financing solution that is built on the trusted trade data over ezTRADE platform, designed to reliving SMEs’ cash-flow issue; and the data intelligence-based smart operations solution for better business decision making.

Ar. Donald Choi, Executive Director and CEO of Chinachem Group kicked off the Summit with a keynote speech titled “Enabling the Transformation Journey Through Innovation and Disruption”. He underscored the importance of fusing entrainment, retail, F&B, co-working space and culture to deliver an integrated carnival-like unique experience, in order to turn consumer into loyal customer. In the various plenary sessions and track sessions that followed, thought-leaders from a mix of industries shared how technology and sustainability are reshaping the future of retail, finance, healthcare and other sectors. In Entrepreneur Forum, the top executives of various F&B companies shared their experience and success formula, on how to withstand adversity and thrive through the pandemic.

Ms. Anna Lin, Chief Executive of GS1 HK, thanked the guests and delegates and offered a few key takeaways, “Digitalization and smart technology adoption will sustain their momentum across businesses. Companies can start with the basics, by adding a unique digital ID as passport for online and offline trade. Secondly, business should continue to strengthen supply chain, digitally connect with trading partners, enabling visibility and consumer transparency. Lastly, data is the new currency that we need to derive meaningful insight, to help make better business decision.”

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About GS1 Hong Kong

Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong is the local chapter of GS1�, which supports companies’ digitalisation to enhance supply chain transparency and efficiency, ensure product authenticity, and facilitate online and offline commerce with global supply chain standards (including GTIN & barcodes) and a full spectrum of standard-based platforms, solutions and services.

Currently, GS1 HK has around 8,000 corporate members covering close to 20 industries including retail consumer goods, food and food services, healthcare, apparel, logistics as well as information and technology. By engaging with communities of trading partners, industry organisations, government, and technology providers, GS1 HK is fostering a collaborative ecosystem with the vision of “Smarter Business, Better Life”.

Headquartered in Brussels, Belgium, GS1® is a not-for-profit, standards organisation that has 115 national chapters serving 150 economies globally. For more information, please visit www.gs1hk.org.