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Mr. Yuen Nin Cho is the Chairman of the Hong Kong E-commerce Association, an expert member of the APEC E-commerce Alliance, a member of the SME Support Group of the Hong Kong SAR Government, the Director General for the Asia-Pacific region of the International Data Center Authority, the Chairman of the WTA International Trusted Mark Alliance (2008-2009), a member of the Guangdong-Hong Kong-Macao Greater Bay Area Cross-border E-commerce Resource Center, and an advisor for the Asia-Pacific region to the Guangdong E-commerce Association, the European E-commerce Association, and the Russian E-commerce Association.

Since 2014, Mr. Yuen has devoted a decade of effort as the Chairman of the Hong Kong E-commerce Association, actively promoting the alignment of Hong Kong’s e-commerce with mainland China and expanding its presence on the global stage, serving as a “super connector” for the development of Hong Kong e-commerce. Over the past ten years, with the generous spirit of “achieving success without seeking credit but being an integral part of it,” he has united and rallied Hong Kong’s e-commerce professionals, making e-commerce an important component of Hong Kong’s economic development. Indeed, he is Mr. Yuen Nin Cho, an expert member of the APEC E-commerce Alliance.

01 – A Decade of Diligence, Vigorously Promoting the Prosperous Development of Hong Kong E-commerce

With the rapid development of the internet, e-commerce has significantly transformed people’s shopping habits and lifestyles by reducing transaction costs and improving transaction efficiency, becoming a new engine for global economic development and international trade growth. Mainland China is one of the largest e-commerce markets.

“Compared to the maturity of e-commerce development in mainland China, the Hong Kong e-commerce market is not yet fully mature. However, under the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area and the stimulation of new consumption patterns and habits, Hong Kong is now experiencing a growing e-commerce market.” In 2014, Mr. Yuen Nin Cho was appointed as the Chairman of the Hong Kong E-commerce Association, dedicated to uniting industry forces for joint development.

Mr. Yuen Nin Cho can be considered one of the pioneers in Hong Kong’s engagement with cross-border e-commerce. After graduating from the Royal Melbourne Institute of Technology in Australia in 1996 with a Bachelor’s degree in Electronics and Communications Engineering, he became an engineer. In 2008, he became the business agent for China Post in Hong Kong and served as the General Manager of China Postal Trade Development Co., Ltd., accumulating extensive experience in cross-border electronic trade. During this period, benefiting from his Hong Kong identity and familiarity with cross-border e-commerce, he utilized postal resources such as China Post’s online shopping platform and EMS postal logistics services to sign e-commerce cooperation agreements with AEON (Hong Kong) Department Stores and Chow Tai Fook Jewelry.

With his expertise in both technology and cross-border e-commerce, along with a broad international perspective and understanding of the mainland’s actual situation, Mr. Yuen Nin Cho became the ideal candidate for the Chairman of the Hong Kong E-commerce Association. “Ten years ago, e-commerce was still a relatively unfamiliar concept in Hong Kong, with the economy predominantly in physical form. Hence, the implementation of e-commerce was not significant.” As the Chairman of the Hong Kong E-commerce Association, Mr. Yuen vigorously united industry professionals and e-commerce enterprises, encouraging mutual benefit and striving to create a platform for sharing new technologies and opportunities, jointly promoting the growth and prosperity of Hong Kong’s e-commerce, making Hong Kong an e-commerce stronghold.

In Mr. Yuen’s view, just like the development of computers, digitization in the past was a reflection of a company’s transformation and upgrading. Today, almost every company has computers, and e-commerce is similar. Nowadays, the vast majority of enterprises have e-commerce operations. “E-commerce is not an isolated industry. In the future, it may become an integral part of the overall economy, existing in any business.”

He emphasized, “E-commerce has significant power in the current economic society, having ventured into various traditional retail, catering, hotel, and tourism industries. If physical businesses remain insulated from e-commerce and do not prioritize its development, it will be a significant loss for the enterprise.”

The Hong Kong SAR Government has also recognized this, and on July 15, 2024, announced the launch of the “E-commerce Easy” (E-commerce Easy Online Store Management System) under the BUD Special Fund (Special Fund for Brand Development, Upgrading and Transformation, and Expansion of Domestic Sales Market) to support enterprises in developing e-commerce businesses to expand the mainland market. Mr. Yuen expressed his views on this.

“‘E-commerce Easy’ has a cumulative funding limit of HKD 1 million. Enterprises can use the funding to set up online stores and place advertisements on third-party online sales platforms, create or optimize mobile applications, and add electronic payment functions to their websites. Undoubtedly, this is powerful support and a good opportunity for Hong Kong enterprises to develop e-commerce.” However, Mr. Yuen hopes that the development of e-commerce requires more consideration and that different fields such as the government and the business community can communicate more, study better response measures, and development paths based on current social development trends.

02 – Helping Brands Go Global, Positioning Hong Kong as the “Super Connector”

Mr. Yuen Nin Cho analyzed that e-commerce in Mainland China is already very mature, and Hong Kong brands lack natural advantages when entering the Mainland market. He stated, “First, they lack professional team support, and rashly entering the Mainland market has a low chance of success. Second, the Mainland e-commerce market is highly competitive, with many brands. Hong Kong brands are mainly 100% Hong Kong-made, Hong Kong brands manufactured in the Mainland, and foreign brands. At the same time, many foreign brands are directly sold in the Mainland, so helping Mainland brands go global is actually Hong Kong’s strength.”

“Undoubtedly, Hong Kong’s development foundation is internationalization. The Hong Kong Trade Development Council has more than 60 offices worldwide, which is a significant advantage in developing e-commerce and showcasing Hong Kong’s strength as the ‘Super Connector.'” Mr. Yuen Nin Cho believes that as an international financial center, Hong Kong should fully leverage its international advantages to help Mainland brands ‘go global,’ and jointly explore overseas markets, especially ASEAN, the Middle East, and countries and regions along the ‘Belt and Road’ initiative.

In helping Mainland brands ‘go global,’ Mr. Yuen Nin Cho believes that Hong Kong has unique advantages: “Firstly, compared to the Mainland, Hong Kong is a free trade port, essentially a large duty-free warehouse, which gives international goods circulating in Hong Kong a cost advantage. Secondly, Hong Kong has an excellent business environment, with integrity in business deeply rooted, and it has a leading advantage in consumer protection. Thirdly, Hong Kong is a global re-export trade hub, with a foundation in entertainment culture and content creation, a sound financial system, and rich international trade experience. By cooperating with industry and policy promotion and combining resources from the Greater Bay Area, I believe we can make significant progress in opening up the international market for live e-commerce.” He also suggests that Mainland live broadcast platforms and MCN organizations can go global through Hong Kong, expanding markets in East Asia, Southeast Asia, etc., but need to ensure quality and intellectual property rights in taxation, customs, and intellectual property to achieve steady development and benefit everyone.

Mr. Yuen Nin Cho also mentioned that in the past ten years, the Hong Kong E-commerce Association has maintained close contact with the Mainland industry while continuously engaging in deep exchanges with overseas industries. “For example, we often hold discussions and meetings with the Ministry of Commerce and various provincial and municipal e-commerce associations, jointly studying policies conducive to the development of e-commerce and providing relevant suggestions. We are often invited to attend events such as the China International Fair for Trade in Services, the Canton Fair, and the China International Big Data Industry Expo. We also help Beijing’s Daxing Industrial Park attract foreign e-commerce and tech companies. At the same time, we lead overseas peers from Europe and Japan to visit cities in the Mainland, visiting our internet giants like Tencent in Shenzhen, Alibaba in Hangzhou, and emerging e-commerce cities like Zhuhai. Moreover, as an expert member of the APEC E-commerce Alliance, I also provide professional opinions on global e-commerce development.”

With experience in hand, given that Hong Kong lacks an influential e-commerce platform, Mr. Yuen Nin Cho officially started his own business during the pandemic, creating a mobile app for idle item trading. It helps consumers freely trade on the platform while also providing a media advertising platform for brands. It is reported that the project has received support from the Hong Kong SAR government and has promising prospects.

“I believe e-commerce in Hong Kong has great potential for development and will become an important economic pillar of Hong Kong in the future. I may not witness it personally, but the Hong Kong E-commerce Association’s promotion will undoubtedly play a role. I hope someone remembers that in this part of history, there was once a president of the Hong Kong E-commerce Association like me who participated in the promotion work,” Mr. Yuen Nin Cho said emotionally. Although the road to promoting Hong Kong’s e-commerce development is long and arduous, he has no reason to stop.

Editing | Deng Xiaoxi, Yang Shuxia

Image provided by the interviewee

Layout | Miao Jing

Proofreading | Liao Qunyan

Source: https://mp.weixin.qq.com/s/pb9x826PEpsFrg8iKutC-g

1. Executive Summary

The World Trustmark and Trade Alliance (WTA) held its annual summit virtually on November 27, 2024, focusing on “Shaping the Future with AI Trust.” The summit brought together international stakeholders, including policymakers, industry leaders, and academics, to discuss the importance of ethical, secure, and collaborative approaches to artificial intelligence.

2. Global Initiatives

2.1 The Value of Trustmarks:  Speakers emphasized the importance of trustmarks in building trust and confidence in AI systems. WTA Chairperson Mr. Ramesh E.V. Balakrishnan of CommerceNet Singapore (CNSG) explained that trustmarks serve as verifiable indicators of adherence to ethical and security standards, encouraging responsible AI adoption across various sectors.

2.2 International Cooperation: The summit highlighted the essential role of cross-border collaboration in establishing and implementing AI governance standards. Professor Zhang Ping from Peking University provided insights into China’s AI governance model, emphasizing its people-centric approach and commitment to “Intelligence for Good.” Ms. Evelyn Goh, Director of the Infocomm Media Development Authority (IMDA) of Singapore, presented on the Global CBPR Forum, emphasizing their role in enabling cross-border data flows while protecting individual privacy. This topic also included initiatives from the Global Signal Exchange and ODR Network.

2.3 AI Governance and Responsible Use: Presentations from Mexico, Malaysia, Hong Kong, Philippines and Thailand emphasized the critical need for comprehensive AI governance frameworks to guide responsible AI development and deployment. Key themes included prioritizing ethical considerations, ensuring transparency and explainability in AI systems, and establishing robust security protocols.

3. Session Highlights (by alphabetical order)

3.1 China:  Director Zhang Xihui from the Zhongxin Certification Center (EBS) highlighted China’s International Mutual Recognition of Certification Services and announced that China would host the WTA chairmanship and Annual Summit in the coming years.

3.2 EU: Mr. Jorij Abraham, Managing Director of the Global Anti-Scam Alliance (GASA) introduced the Global Signal Exchange.

3.3 Hong Kong: Mr. Joseph Yuen, Chairman of Hong Kong Federation of E-Commerce (HKFEC), shared practical applications of AI in e-commerce, drawing on their experience with the AI-driven platform Swapify.

3.4 Japan: WTA Vice-Chair Mr. Eiichiro Mandai, CEO & Founder of ODR Room Network INC., discussed the e-commerce and trustmark landscape in Japan.

3.5 Malaysia: Dato’ Ts. Dr. Haji Amirudin bin Abdul Wahab, CEO of CyberSecurity Malaysia, outlined Malaysia’s strategic AI initiatives, including the formation of a National AI Office and the development of comprehensive AI governance guidelines.

3.6 Mexico: Mr. Julio César Vega, Director of Asociación de Internet MX (AIMX), discussed AI initiatives in the Mexican Congress and the work of the Mexican Internet Association with UNESCO.

3.7 Philippines: Mr. Dustin Andaya and Mr. Jovrel Cipriano emphasized the crucial role of trustmark providers in promoting responsible AI development and deployment.

3.8 Thailand: Mr. Prachaya Pairojkulmanee, Director of Department of Business Development (DBD), showcased Thailand’s Trustmark and its contribution to fostering trust and confidence within the country’s rapidly expanding e-commerce landscape.

4. Conclusion and Recommendations

The WTA Annual Summit 2024 served as a timely reminder of the urgent need for concerted global action. It is essential to ensure the ethical and responsible development and deployment of AI, facilitated by WTA Vice-Chair Dr. JJ Pan. By prioritizing the establishment of clear ethical guidelines, robust security standards, and effective international cooperation mechanisms, stakeholders can harness the transformative power of AI for the betterment of humanity. The WTA and its partners are encouraged to continue leading these critical initiatives.