Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong’s innovation and technology development is gaining momentum, pledging that the city will capitalize on the opportunities presented by the 15th Five-Year Plan (2026-30), integrate more deeply and contribute to the country's development strategy.
Writing in his weekly blog, the financial chief said the next five-year blueprint will chart the course for accelerating and expanding Hong Kong’s next stage of development.
He noted that the city enjoys unique strengths in many sectors, such as finance, trade, and I&T, with many emerging areas brimming with fresh opportunities.
Highlighting the rapidly growing I&T sector, Chan said that under the leadership of the Hong Kong Special Administrative Region government, various government departments and public institutions have been working closely to accelerate the cultivation of the city’s new quality productive forces.
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He noted that tangible progress is emerging, from supporting Chinese mainland I&T enterprises in “going global” and attracting them to set up research and development centers in Hong Kong, to encouraging the clustering of targeted firms in the special administrative region.
One notable example is The Cradle -- a service center launched by the Hong Kong Productivity Council to provide one-stop professional support for enterprises, including international standards alignment, intellectual property management and protection, and overseas regulatory compliance.
“Since its establishment in April last year, The Cradle has attracted interest from over 350 enterprises, with more than 100 projects having entered a substantive follow-up stage,” Chan said.
The financial secretary also stressed that the SAR must harness its strengths as an international financial center to support the I&T sector at every stage of its development.
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Last year, 119 companies launched their initial public offerings in Hong Kong’s equity market, raising over HK$280 billion ($35.89 billion), with firms in information technology, biotechnology, new energy, and advanced manufacturing accounting for about 70 percent of the total funds raised.
Hong Kong Investment Corporation -- a patient-capital institution wholly-owned by the SAR government -- has so far invested in over 170 projects, with every Hong Kong dollar invested leveraging more than HK$6 in market capital, Chan added.
Looking ahead, he said the SAR will seize the opportunities offered by the 15th Five-Year Plan, integrating more actively into and better serving the country’s broader development landscape.
“We’ll promote the deep integration of technological and industrial innovation, further strengthen the connection between technology and industry, and propel the economy toward high-quality, high-value-added, and diversified growth,” he said.
Contact the writer at gabylin@chinadailyhk.com
