The Hong Kong Special Administrative Region government announced it would team up with Ping An Technology for the establishment, support and maintenance of Categories A and B for an electronic personal identity system, in the latter's effort to assist the HK SAR government in building an e-ID system.

The HK SAR government will provide e-ID to all Hong Kong residents to enable them to conduct online transactions via unique electronic identification, promote a new economic service model directly to citizens and provide key electronic infrastructure for Hong Kong's smart city project.

Using Ping An's technology, they can complete online transactions in an easier way, boosting the facilitation of e-commerce.

Ericson Chan, CEO of Ping An Technology, said: "Face recognition was key for Ping An Technology to win this project. The e-ID project is the framework for building a smart city in Hong Kong. Participation in the project is conducive to helping Ping An Technology further develop overseas practices for smart cities."

With 99.8 percent accuracy and minimum wave amplitude, its facial recognition technology has reached a world-leading level. In addition, the technology has been widely and deeply applied in more than 400 fields, including airport security, community intelligent management, financial risk control, medical insurance, social welfare security, railway facilities connection and a series of high-security areas.

At present, facial recognition technology has been integrated into Ping An's identity verification platform, integrating many artificial intelligence algorithms such as biopsy detection, optical character recognition and voiceprint recognition. The platform service has been extended to Southeast Asia and other overseas areas.

Market insiders said application of the face recognition technology into the e-ID system offers convenience to residents, in that a person's identification can be verified and the docking of the technology with other online platforms promotes the facilitation of online transaction.