Chinachem and SCC sign MoU to foster smart city development and cybersecurity standards

HONG KONG, CHINA - Media OutReach - 23 July 2020 -
Chinachem Group (the Group)
and the Smart City Consortium (SCC) today signed a Memorandum of Understanding
(MoU) to collaborate in propelling smart city development and helping elevate
cybersecurity standards in Hong Kong. The move underlines not only the
determination of both parties to foster the development of Internet of Things
(IoT) property technology (PropTech) in Hong Kong, but also Chinachem's
commitment to digital transformation and driving sustainable living
solutions for Hong Kong people.

The Memorandum of Understanding to help propel Hong Kong's
smart city development was signed by Damien Wu, Director of Digital
Transformation of Chinachem Group (2nd right) and Gary Yeung, President of the Smart
City Consortium (2nd left); witnessed by Donald Choi, Executive Director and
Group CEO of Chinachem Group (1st right) and Dr Winnie Tang, Founder and
Honorary President of the Smart City Consortium (2nd left).

Pursuant to the MoU, the SCC will
develop a set of indexing standards, cybersecurity guidelines and best
practices for deploying and maintaining IoT devices in smart buildings. The
Group, in addition to offering monetary sponsorship, will serve as a pioneer in
testing the resulting IoT PropTech standards to enhance cybersecurity in its
smart buildings. Furthermore, the two parties will join hands in organising
activities to promote Hong Kong's smart city vision, with a focus on smart
buildings and the development of an IoT connectivity framework.

The MoU was signed by Damien Wu,
Director of Digital Transformation of Chinachem Group, and Gary Yeung,
President of the Smart City Consortium; witnessed by Donald Choi, Executive
Director and Group CEO of Chinachem Group, and Dr Winnie Tang, Founder and
Honorary President of the Smart City Consortium. The Group is the first
property developer partner of the SCC.

"We at Chinachem have accelerated the
digital transformation process and have the aspiration of becoming an industry
pioneer in PropTech applications," explained Mr Choi. "We are collaborating
with the SCC with the intention to raise the bar for the Group as well as the
industry, and help make Hong Kong a more liveable smart city. It is also our vision
to position the city as a leader within the Greater Bay Area in terms of IoT
standards development, assessment and education for the property sector." 

Thanking Chinachem Group for its
support and sponsorship, Mr Yeung said the adoption of communications
technology and IoT were major opportunities that empowered the SCC's operations
to promote smart building management, allowing swifter actions and improved security.
"The connected network of sensors and smart devices also delivers a safer and more
sustainable environment which is key to maximising property value," he noted. "We
hope to develop a set of indicators and a rating standard index for the
property management industry and the IoT industry."

While IoT-powered solutions in smart buildings will help increase cost-efficiency
and operational effectiveness, they will also be subject to higher cybersecurity
risks if no related standards, guidelines and best practices exist -- hence the
importance of this collaboration for Hong Kong's future PropTech development.

Chinachem Group

Chinachem Group is a leading property
developer based in Hong Kong, with a real estate pedigree dating back to the
1960s. Today, we develop residential, commercial, retail and industrial properties,
and own and manage hotels.

We uphold integrity, accountability,
teamwork, innovation, harmony and win-win as the values that drive our
operations and benefit our stakeholders, ultimately bringing positive change to
our communities.

We are forward thinking in embracing
new ways to work, through organisational change and digital transformation, as
we forge ahead into our next century of success.

Smart City Consortium

Smart City Consortium is formed by a group of professionals from
different corporations and organisations to provide opinions and suggestions to
the Government for formulating related policies and standards in the
development of Hong Kong as a world-class smart city.  We encourage
worldwide collaboration with different stakeholders to create the right
ecosystem which fosters innovation and sustainable economic growth for Hong

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