Quotes of the day

"The smartphone market has become like the film industry. How easy is it for any single company to keep churning out hit after hit? Vertical integration into semiconductors is the way to fend off copycats."

Christopher Thomas, the Beijing-based partner of global consultancy McKinsey & Co.

"When it comes to financial technology, Hong Kong startups are going head-to-head with rivals in other banking centers such as Singapore and London. For the Internet of Things, we see Hong Kong as offering more advantages than other places like Singapore because of its proximity to Shenzhen and ease with which you can rapidly develop prototypes."