Date
22 September 2017
Lenovo CEO Yang Yuanqing (seated, right) and Cyberport chairman Paul Chow (seated, left) pose for a picture with colleagues Tuesday after signing an MoU for a new technology R&D center. Photo: HKEJ
Lenovo CEO Yang Yuanqing (seated, right) and Cyberport chairman Paul Chow (seated, left) pose for a picture with colleagues Tuesday after signing an MoU for a new technology R&D center. Photo: HKEJ

Lenovo to set up cloud service and R&D center in HK Cyberport

Chinese computer giant Lenovo Group on Tuesday inked a memorandum of understanding (MoU) to establish a cloud service and product research and development center at Hong Kong’s Cyberport.

The planned center will mark’s Lenovo’s first such facility in the Asia-Pacific region, according to company officials. 

The deal was signed with Hong Kong Cyberport Management Co. Ltd, with Hong Kong’s Chief Executive Leung Chun-ying among those present at the ceremony.

The R&D center will focus on in-depth studies with two main perspectives, “big data” and “enterprise level cloud service infrastructure platform”, Lenovo’s chief executive Yang Yuanqing said at the event.

The Chinese technology titan also plans to establish a data center which can better serve the Asia Pacific market and ultimately support Lenovo’s cloud service businesses around the world.

The MoU is part of a strategic cooperation framework agreement that Lenovo has inked with Cyberport on Tuesday.

Lenovo will boost investments, through its angel/venture capital investment subsidiary LeFund, for Hong Kong high-tech startups, Yang said.

The latest MoU comes as Lenovo Group’s (00992.HK) parent Legend Holdings is said to be planning an initial public offering in Hong Kong in the second half of this year to raise as much as US$3 billion.

Yang didn’t make any comment Tuesday on Legend’s reported plan, but noted that Hong Kong has always been an estuary for Lenovo to the overseas market and that it is the center of its business in Asia Pacific region.

Hong Kong’s leader Leung said at the ceremony that the government plans to increase fiscal support to encourage private companies’ R&D projects and investment into the technology sector.

In other comments, Leung said Legislative councilors should stop filibustering over the proposed establishment of an innovation and technology bureau.

The new bureau is needed for “the future of Hong Kong’s younger generation and the development of innovation and technology businesses”, he said.

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MY/JP/RC

EJ Insight reporter

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