A view of Hong Kong File Photo: VCG
The variety of sci-tech enterprises funded by the federal government of the Hong Kong Special Administrative Region (HKSAR) that plan to expand in the HKSAR has elevated from greater than 200 final 12 months to greater than 500 this 12 months, an official from the HKSAR mentioned on Sunday.
“These enterprises encompass both local firms and those attracted from outside the HKSAR,” Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR, mentioned on Sunday throughout Hong Kong’s radio program Beautiful Sunday.
Sun identified that Hong Kong’s innovation and expertise improvement has primarily began “from scratch,” and advancing new industrialization requires a “tailored, timely” strategy – aligning with nationwide improvement tendencies.
“This not only helps enterprises from the Chinese mainland expand overseas but also enables Hong Kong-manufactured products to reach international markets,” mentioned Sun.
Sun emphasised that with Hong Kong’s restricted land and excessive labor prices, growing superior manufacturing incurs important bills. It is important to entice industries really suited to Hong Kong, equivalent to “pilot industries” – these addressing important applied sciences simply earlier than mass manufacturing. These align with Hong Kong’s strengths whereas producing substantial income.
Sun famous that when introducing enterprises, strict necessities can be imposed on the enterprises’ output worth, their contribution to Hong Kong’s financial system, and the availability of job alternatives for native residents.
The secretary additionally famous that the HKSAR Chief Executive’s 2025 Policy Address launched on Wednesday prioritized business improvement as a key focus.
A devoted chapter on industries was included in the handle, which geared toward reshaping the general route of Hong Kong’s improvement, John Lee Ka-chiu, Chief Executive of the HKSAR, mentioned on Wednesday throughout a press convention on the handle, in accordance to the official web site of the HKSAR authorities.
Hong Kong Chief Executive John Lee Ka-chiu presents his fourth Policy Address to press on September 16, 2025. Photo: VCG
“Promoting industries involves two key approaches: one is attracting them, and the other is nurturing and cultivating our own. We’re pursuing both in a diversified manner – focusing on what succeeds – and we’re taking this industrial policy very seriously. In terms of industrial policy, introducing high-value emerging sectors will provide the greatest boost to Hong Kong’s economic development,” mentioned Lee.
Analysts identified that scientific and technological innovation are extremely built-in with industrial innovation. Therefore, Hong Kong additionally emphasizes sustaining its means in primary analysis – the upstream of innovation, whereas additional strengthening the event of downstream industries, to obtain coordinated improvement.
In current years, Hong Kong has spared no effort in selling the upgrading and improvement of industries, particularly high-tech ones.
For instance, the HKSAR has arrange the Innovation and Technology Fund, aiming to help native corporations to improve their technological degree and introduce progressive concepts to their companies by means of 18 funding applications.
Moreover, with a dedication of greater than HK$100 billion ($12.9 billion), the HKSAR authorities has stepped up funding assist for innovation and expertise (I&T) improvement by growing I&T infrastructure, selling analysis and improvement, pooling expertise, supporting enterprises and selling re-industrialization.