Editor’s Note: This post is contributed by Hugo Wu, a Hong Kong-based Internet industry analyst, private banker, progressivist, and web economy believer. Feel free to contact him on WeChat (ID: i-quan).

Recently I have been doing research on stories of professionals in Hong Kong making use of the O2O trend to jumpstart service industry internet startup. My rational is, if O2O could help transform traditional service industry into a scalable digitalized one, then there we should see a lot more emerging business models in Hong Kong and Singapore, as these cities have some of the most established professional services such as finance, consulting, and legal services.

To my dismay, however, what I found instead was that many traditional service industries have not even siren from across the Great Firewall of China. Most appears complacent about the old ways as if the disruptive changes brought by internet startups on various industries on the other side of the wall will remain contained ever within. Even for P2P lending, a field that lies on the epicenter of disruptive innovation, there is not much to be found in Hong Kong except a company named Welab. The lukewarm response to new economy business models contrast sharply with the zealous atmosphere in mainland China.

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