To accelerate the development of new quality productive forces and advance Hong Kong’s ambitions as an international innovation and technology hub, the city is building an ecosystem based on its science parks and research institutions and deepening collaboration among policy direction, capital support, scientific research and commercialization, officials and industry insiders said on Tuesday.

Delivering welcome remarks at the Science and Technology + New Quality Productive Forces Summit 2025, hosted by the Hong Kong China Friendship Association, Acting Chief Executive Eric Chan Kwok-ki said that as of the end of October, nearly 500 high-potential or industry-leading tech companies had expressed plans to establish, relocate or expand operations in Hong Kong.

ALSO READ: Chan: HK economy extends steady growth amid global uncertainties

With three major innovation and technology parks as well as five key research and development institutions as the framework, the Hong Kong Special Administrative Region is stepping up efforts to connect upstream research, midstream development and downstream industrialization, in a bid to build a full-fledged ecosystem, Chan said.

In addition to the growth of its existing hubs, the construction of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone as well as the San Tin Technopole is in full swing.

The Hong Kong Park of the Hetao Cooperation Zone is close to open, said Sun Dong, secretary for innovation, technology and industry. Nearly 60 companies have signed agreements and are moving in.

He said that the SAR government is adopting a “moving in while construction is underway” approach for the remaining five buildings in the park, which will be completed progressively from 2027, after the completion of the first three buildings earlier this year.

Meanwhile, the San Tin Technopole will serve as a major engine for the Northern Metropolis — a township in the making and occupying a third of Hong Kong’s area — focusing on life and health technologies, artificial intelligence and robotics, as well as microelectronics and advanced manufacturing.

READ MORE: Hong Kong leads blockbuster year for Asia fundraising with $73b

Sun said the Hong Kong Park of the Hetao Cooperation Zone will focus on frontier technological research and testing, while the San Tin Technopole will take the responsibility to translate those breakthroughs into commercial applications.

In developing new quality productive forces in way tailored to local strengths, Hong Kong enjoys unique advantages, said Luo Yonggang, deputy director of the Liaison Office of the Central People’s Government in the HKSAR.

For instance, Luo added, as an international financial center, the city benefits from bespoke listing rules for biotech firms on the Hong Kong stock exchange, which has helped cement its position as the world’s second-largest fundraising hub for biotechnology companies.

HKIC CEO Clara Chan Ka-chai said that in terms of financial support, more than 65 percent of the capital deployed by Hong Kong Investment Corp Ltd, a wholly owned investment arm of the SAR government, has gone into early-stage and growth-stage companies, with investments made in over 160 projects.

READ MORE: Chan: HKIC trying to bring entrepreneurs with HK DNA to global stage

She added that HKIC is scaling up support for firms that meet development and performance milestones, leading new funding rounds and helping them connect with sovereign funds, regional and international investors, as well as potential commercial partners.

Among HKIC-backed firms, three have listed on the Hong Kong stock exchange, another is expected to debut by year-end, and more than 10 have filed listing applications this year, Chan said.

Contact the writer at irisli@chinadailyhk.com