HONG KONG — Hong Kong Science and Technology Parks Corporation (HKSTP) and Hangzhou Industrial Investment Group jointly hosted a grand opening ceremony of the Hangzhou Innovation Incubation Center at Hong Kong Science Park on Tuesday, signing a memorandum of understanding on aerospace technology and industry strategic cooperation.

The partnership builds on existing incubation and co-acceleration programs, focusing on three areas: enterprise internationalization services, industrial ecosystem and scenario collaboration, and synergy between the low-altitude economy and commercial space industries.

Nearly 300 representatives from governments, enterprises, universities, research institutes, investors, and professional service sectors attended.

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Speaking at the event, Lillian Cheong Man-lei, Hong Kong Special Administrative Region’s under secretary for innovation, technology and industry, said the SAR’s five-year plan targets national strategic technology areas, with aerospace as a key new track. The 2026 Policy Address introduced a new round of special aerospace project calls, streamlined low-orbit satellite licensing and has the Stock Exchange studying rule changes to attract space enterprises to list in Hong Kong.

Gu Chunxiao, director of Hangzhou’s State-owned Assets Supervision and Administration Commission, said Hangzhou has a first-class innovation ecosystem, a solid aerospace industry foundation and ample room for growth, adding that she hopes for deeper collaboration with Hong Kong to expand into global markets.

The Hangzhou Innovation Incubation Center at Hong Kong Science Park has already helped more than 200 Hangzhou enterprises build contacts with Hong Kong, and 38 have soft-landed in the science park.