Attracting investments from enterprises and nurturing local research and talent are vital to Hong Kong’s development as an international innovation and technology center, Financial Secretary Paul Chan Mo-po said on Sunday.
Writing in his weekly blog, Chan said that the Office for Attracting Strategic Enterprises welcomed its seventh batch of 18 strategic companies on Thursday -- half of them from outside the Chinese mainland. The additions brought the total number of strategic enterprises establishing or expanding operations in the special administrative region to 142, with expected investments of about HK$84 billion ($10.8 billion) and some 27,000 jobs over the next few years.
Chan said the companies’ investments are gradually bearing fruit. By late last month, those that were among the first six batches had invested HK$28.3 billion and hired more than 10,300 people, exceeding the original interim targets by 30 percent and 34 percent, respectively.
“Beyond industry and investment, talent is the foundation of innovation and technology,” he said.
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The finance chief said companies aiming to set up shop in the SAR need teams spanning research, engineering, commercialization and business management.
The focus on talent was also evident at InnoCarnival 2026 which opened at Hong Kong Science Park on Saturday. Speaking at the ceremony, Chan said Hong Kong’s frontier research capabilities, financial services and international talent could provide a pathway for turning ideas into industries.
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He also said Hong Kong’s first Five-Year Plan for Economic and Social Development (2026-30) seeks to closely align university talent development and research with industry needs, while the SAR government will leverage the city’s financial strengths to channel more patient capital into research teams and startups as they move from research and development to application.
Running from Oct 24 to Nov 1, the nine-day carnival showcases local innovation and technology achievements and features an aerospace thematic zone highlighting research projects by local universities.
Contact the writer at charlottezhou@chinadailyhk.com
