Source: Hong Kong Government special administrative region
Following is the speech by the Permanent Secretary for Innovation, Technology and Industry, Mr Kevin Choi, at the seminar on APEC (Asia-Pacific Economic Cooperation) Thematic Session on Capacity Building and Resilience Development of SMEs in Guangzhou today (August 31):
Distinguished guests, ladies and gentlemen,
Against the backdrop of global economic transformation and external volatility, driving enterprise upgrading and fostering new quality productive forces are the key policy directions for the Hong Kong Special Administrative Region (HKSAR) Government in advancing quality economic development. As at March 2026, Hong Kong is home to some 360 000 SMEs, representing over 98 per cent of our business sector and employing 1.2 million people. As the bedrock of Hong Kong’s economic framework, the pace at which our SMEs upgrade and transform directly impacts our broader economic momentum. To this end, the Government continuously refines its strategies through a multipronged approach, covering financial support, technology adoption, capability building, and market expansion. Crucially, these initiatives align our local business community with national development strategies, including the National 15th Five-Year Plan, the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and the opportunities arising from the Belt and Road Initiative.