Hong Kong has been experiencing a boom in innovation and technology. According to the 2021 research released by KPMG with more than 800 technology industry leaders, Hong Kong has become more competitive among global tech hubs outside Silicon Valley. The city ranks ninth among the top 10 seen as leading technology innovation hubs over the next four years. The Hong Kong Trade Development Council estimated that the city’s R&D spending, as a percentage of the GDP, is expected double in five years from 2017.
Innovation is not only about technology; it also refers to how a business thrives in a competitive landscape by introducing new processes, services, or product offerings to affect positive change. This can include improving existing methods or practices to achieve the ultimate goal of creating new value and boosting growth.
UCP is proud to be at the forefront of innovation. The company has embraced sustainability as one of its core values since 2017 and successfully turned after-use PET beverage bottles into fabrics suitable for our industry, as just one example. We produce eco-friendly faux-botanicals and seasonal decorations that create high artistic, economic, and environmental value by combining innovation with sustainability. Last year, a respectable percentage of the company’s business came from the eco portfolio. We are happy to work with anyone who shares our vision and commitment to sustainability.
- 2021 KPMG Technology Industry Survey
- Data and Profiles of Innovation and Technology Industry in Hong Kong – Hong Kong Trade Development Council