The value of e-commerce transactions over the internet in Hong Kong is expected to grow 40-fold during the next four years to reach HK$18.6bn ($2.4bn) by 2003 according to the Secretary for Information Technology and Broadcasting Kwong Ki-chi. This will compare to a market worth $29bn($3.7bn) in mainland China by 2003 he said.
He said there are already more than a million internet subscribers in the territory, and the government is trying to encourage them to use e-commerce by setting up certification authorities to verify online transactions, and by giving electronic transactions the same legal protection as paper transactions.
