The Hong Kong Special Administrative Region has welcomed its seventh batch of 18 strategic enterprises. Together with the previous sixth batches, a total of 142 strategic enterprises have been attracted to establish a presence in the special administrative region, with projections suggesting this could bring in some HK$84 billion ($10.7 billion) in investment and create about 27,000 high value-added jobs.
The 18 strategic enterprises cover a wide range of sectors from advanced manufacturing and new energy, to artificial intelligence, life and health technology, fintech, and cultural and creative technology. Half of the strategic enterprises come from the Chinese mainland, while the remainder are from other countries. The market capitalization or valuation of several of the companies exceeds HK$100 billion.
“The growth of our strategic enterprises has been impressive. The total investment committed by companies in the first six batches has exceeded expectations by 30 percent, while the number of jobs created has exceeded expectations by 34 percent. These companies altogether have taken up more than 2.8 million square feet of commercial and industrial space,” Financial Secretary Paul Chan Mo-po said at the enterprises signing ceremony, organized by the Office for Attracting Strategic Enterprises (OASES), on Thursday.
One of the strategic enterprises in this batch has developed real-time artificial intelligence-empowered risk scores to predict patient deterioration in general wards and intensive care units, allowing medical intervention to come much earlier.
Another strategic enterprise will deploy its AI+smart vehicle technologies and internet of vehicles applications in Hong Kong to accelerate the wider adoption of electric vehicles, while using the city as a testing ground to advance green and smart mobility in the region.
“We are determined to create the conditions for more impact, by connecting finance, research, talent and industry more effectively, and by making it easier for enterprises to scale up their operations as well as products and services,” Chan said.
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The finance chief said the Northern Metropolis will provide space for the innovation and technology industry, by developing three university towns there to bring education, research, talent development and industry closer together.
He added that the SAR is also strengthening these links across the Guangdong-Hong Kong-Macao Greater Bay Area by making it easier for people, goods, capital, data and samples to flow across the boundary, which is particularly important for the biomedicine industry.
“Smoother cross-boundary flows of research data and biological samples will support research and development. And the mainland and Hong Kong authorities are stepping up collaboration on clinical trials and drug approvals that will help companies bring new treatments to patients more quickly, both on the mainland and in international markets. No wonder many global pharmaceutical firms are choosing Hong Kong as their research and development hub and regional base,” Chan said.
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OASES Director-General Peter Yan King-shun, speaking on the sidelines of the signing ceremony, said, “Among the seventh batch of strategic enterprises, there is a leading Swiss gold trading company, which has already begun preparations to produce gold in Hong Kong and hopes to drive the gold trading ecosystem encompassing refining, storage, and trading. Another Shenzhen-based gold company has also established a presence in Hong Kong. Both companies are internationally certified gold refineries.”
Yan said attracting businesses to settle in Hong Kong relies on the chief executive, financial secretary and policy bureau officials' overseas visits to promote Hong Kong's advantages, as well as Hong Kong's targeted industrial policies.
