Pharmaceutical heavyweight Pfizer, Chinese ride-hailing giant Didi, and several other global high-tech big caps are set to expand their presence and scale up investment in Hong Kong, injecting a fresh boost to the international financial center’s efforts to accelerate industrial transformation and power new growth engines.
This came as the Hong Kong Special Administrative Region government’s Office for Attracting Strategic Enterprises (OASES) on Monday announced a new batch of 22 strategic enterprises under its investment-attraction initiative, bringing the total number in the lineup to more than 120.
These companies, including Pfizer and Didi, will establish or expand their operations in Hong Kong by setting up research and development facilities, treasury centers, or regional headquarters.
“This is a clear win-win for Hong Kong and for the enterprises,” Financial Secretary Paul Chan Mo-po said at a ceremony on Monday.
“Together, the 124 enterprises are expected to bring in HK$73 billion ($9.3 billion) in investment, and create some 25,000 jobs, many of which are high-value positions in R&D and management.”
Among the latest additions to the OASES’ pool of strategic enterprises are German biopharmaceutical firm Boehringer Ingelheim, Swiss-based HAYA Therapeutics, and French software corporation Dassault Systèmes. The list also features Chinese artificial intelligence firm MiniMax, Hong Kong-listed Tianqi Lithium, and AutoFlight, a leader in the eVTOL — electric vertical takeoff and landing — technology sector.
AutoFlight said Hong Kong’s role as a superconnector between the Chinese mainland and international markets makes it the ideal gateway for business expansion. The company added that it plans to conduct cross-border test flights within the Guangdong-Hong Kong-Macao Greater Bay Area, and will cover both cargo and passenger transport.
Peggy Fung, general manager of Pfizer in Hong Kong and Macao, said the HKSAR boasts many advantages in terms of its business environment, with the government prioritizing the development of the biotech industry.
She added that the company hopes local regulators can expedite approvals for clinical trials, and that it will strengthen communication with authorities on issues such as public vaccination programs and healthcare spending.
Pfizer also plans to hire more AI talent to support data analysis and optimize operations, Fung said.
Hygon Information Technology, a leading CPU manufacturer with a market valuation exceeding HK$500 billion, said its plan is to use Hong Kong as a strategic base to promote the domestic computing ecosystem.
By leveraging the city’s unique advantages to expand its global reach, the mainland firm aims to empower new quality productive forces and drive the high-quality development of the digital economy.
As of March, enterprises under the OASES’ initiative had taken up more than 2.6 million square feet (241,548 square meters) of commercial and industrial space in Hong Kong, representing a 40 percent year-on-year increase, according to the government.
OASES Director-General Peter Yan King-shun said the strategic enterprises will serve as a powerful engine for Hong Kong’s economic growth and industrial development.
Yan added that the office will continue to proactively attract high-potential and representative strategic enterprises and collaborate with government departments to support the businesses’ development, further reinforcing Hong Kong’s position as a global innovation hub.
Contact the writer at gabylin@chinadailyhk.com
