Source: Hong Kong Government special administrative region
Secretary for Health chairs 30th meeting of Research Council under Health Bureau
Professor Lo said, “Successful translation and application of research findings can enhance citizens’ health and public health standards. The research translation strategy adopted by the HMRF last year has been gradually implemented, setting a clear direction for promoting the translation of research findings into practical applications. The HMRF will continue to drive research translation and promote research findings with potential, so that the relevant findings can more effectively support the evidence-based healthcare policies in addressing increasingly complex health challenges in Hong Kong.
“Over the past year, many projects successfully secured additional funding for subsequent research, enabling further translation of their outcomes. The HHB will continue to foster scientific research and innovation in the healthcare field, and promote high-quality outcome translations through the HMRF, supporting Hong Kong’s development into an international health and medical innovation hub.”
Professor Lo was pleased to note the significant translation results and the impacts of the research, as revealed from the surveys conducted on 123 HMRF-funded projects in 2026. These include:
(1) Close to 80 per cent of the projects published their research findings in peer-reviewed journals, showcasing that the HMRF is effective in supporting knowledge generation;
(2) Over 40 per cent of the projects received additional funding support from the HMRF and other funding sources for subsequent research, with each project receiving an additional funding (excluding the HMRF) amounting to more than three times that of the original HMRF grant on average;
(i) The development of a set of long noncoding ribonucleic acid biomarkers to provide a reliable prognostication applicable to patients with acute myeloid leukaemia (AML). The study findings have contributed to the expansion of genetic testing-related services in the Hospital Authority (HA). The services are now available at all HA clusters for all newly diagnosed AML patients. With a more accurate risk stratification of AML in the prognosis by healthcare providers, the application of precision medicine for individual patients could be more effectively supported;
At the meeting, the RC received a progress report and future plans of the research translation strategy since its endorsement in September last year, covering the entire research cycle including application, assessment, stakeholder engagement and dissemination. Members also discussed the future work plan of the HMRF, including measures on further enhancing its efficiency and quality of projects. The meeting also considered the funding applications for investigator-initiated projects under the HMRF received from last December to March this year, and endorsed a funding commitment of $207 million involving 204 projects. The exact details will be released in late September.
Professor Lo said, “This year marks the beginning of the National 15th Five-Year Plan, and the Chief Executive is set to announce Hong Kong’s First Five-Year Plan and the Policy Address. We have always attached great importance to advancing research project translation and funding innovative medical scientific research in different areas, including prevention and treatment of cancers, clinical trials and digital health. We also encourage researchers to make full use of the research resources provided by the HMRF to drive the translation of medicine and clinical research, with a view to aligning with the national and Hong Kong Special Administrative Region’s development needs for the benefit of Hong Kong citizens.”
Chaired by the Secretary for Health, the RC comprises members including experts from medical schools and healthcare-related disciplines of various universities as well as representatives from the Innovation, Technology and Industry Bureau, the Department of Health, the Primary Healthcare Commission, the University Grants Committee, the HA, as well as the Hong Kong Academy of Medicine and the Institute for Medical Advancement and Clinical Excellence. The RC provides strategic guidance on funding for health and medical research and health promotion projects. It oversees the management of funds under the HHB, including the HMRF, encompassing allocation of funding to approved projects.
Issued at HKT 17:30
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Shenzhen-Hong Kong-Guangzhou cluster remains No. 1 in Global Innovation Index 2026
Source: Hong Kong Government special administrative region – 4
The World Intellectual Property Organization (WIPO) published the Global Innovation Index (GII) 2026 top 100 innovation clusters today (September 8), among which the Shenzhen-Hong Kong-Guangzhou cluster ranks first globally once again.
A spokesman for the Hong Kong Special Administrative Region Government said, “We warmly welcome the innovation cluster ranking published by WIPO, which reaffirms the outstanding innovative capacity and the innovation and technology (I&T)-supporting financing ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
“Expediting I&T development has been a policy priority of this Government. The Government has been committed to enhancing the I&T ecosystem, as it continues to develop the original grant patent system and introduces the patent box regime, which offers tax concessions for intellectual property income to promote innovation. It is also deepening Hong Kong’s collaboration with our GBA sister cities while optimising the local I&T development paradigm and driving the in-depth integration of technological and industrial innovation. The goal is to spearhead the development of Hong Kong into an international I&T centre and contribute to building a technologically advanced nation. Our efforts have started to bear fruit. The number of start-ups rose from over 1 500 in 2015 to more than 5 200 in 2025, and Hong Kong Science Park and Cyberport, the two I&T flagships, have collectively witnessed the birth of around 20 unicorns to date. Meanwhile, the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Loop Hong Kong Park) was officially opened in December 2025, and over 100 technology enterprises and institutions have signed leases and begun moving in. By leveraging the advantages of the strong alliance of Hong Kong and Shenzhen, the Loop Hong Kong Park will be an important platform for basic scientific research, commercialisation, pilot production and international I&T collaboration in the GBA, driving high-quality development. The San Tin Technopole Company Limited was also officially established in June 2026 to press ahead with the development of 210 hectares of I&T land in the San Tin Technopole, which will form a crucial node for the integrated development of upstream, midstream and downstream industries together with the Loop Hong Kong Park.
“Hong Kong has a vibrant private equity market, with assets under management of close to US$250 billion, ranking second in Asia after the Chinese Mainland. The Government has been enhancing the development of venture financing as a key element of Hong Kong’s I&T and commercialisation ecosystem. The establishment of a HK$10 billion I&T Industry-Oriented Fund, together with another HK$10 billion Research, Academic and Industry Sectors One-plus Scheme and the Pilot I&T Acceleration Scheme, aims to reinforce the funding continuum from university research and seed-stage entrepreneurship to scale-up, industrial application and global market expansion. At the same time, the Hong Kong Investment Corporation Limited acts as patient capital, investing in smaller and early-stage ventures with a long-term horizon to steer long-term market capital towards emerging and future industries. These initiatives all help deepen the I&T cluster’s entrepreneurial and venture-financing base, thereby facilitating more new economy and technology enterprises with potential to raise funds and expand their businesses in Hong Kong.
“Going forward, we will proactively align with the National 15th Five-Year Plan to strengthen our strategic positioning as an international I&T centre. Hong Kong will further deepen collaboration with the GBA sister cities, contributing to our country’s efforts in building a modern industrial system and achieving high-level scientific and technological self-reliance and strength.”
The GII Cluster ranking identifies local concentrations of world-class innovation activity using three key metrics, viz international patent filings via WIPO’s Patent Cooperation Treaty (PCT), scientific publications, and the number of venture capital deals. For this year’s ranking, the Shenzhen-Hong Kong-Guangzhou cluster filed 2 259 PCT applications, published 4 060 scientific articles, and had 138 venture capital deals, all per 1 million inhabitants over the last five years.
Record year for investment product sales in Hong Kong with robust demand for FICC-related products: SFC-HKMA joint survey 2025
Source: Hong Kong Government special administrative region
Record year for investment product sales in Hong Kong with robust demand for FICC-related products: SFC-HKMA joint survey 2025
Collective investment schemes (CIS) (up 85 per cent) and structured products (up 53 per cent) were both key engines for record-breaking sales. Notably, CIS overtook structured products for the first time as the top-selling product type since 2020.
FICC-related products played a central role in investors’ asset allocations as the investors continued to favour income-generating assets and liquidity-management solutions amidst fast-changing market conditions. Money market funds accounted for 88 per cent of the top five CIS sales reported by the large firms, up from 80 per cent in 2024. Currency-linked product sales also increased by 50 per cent YoY to $698 billion.
Debt securities sales continued on a solid long-term growth trajectory, up 43 per cent from 2022. The growth was primarily driven by sovereign bonds (up 138 per cent) and investment-grade corporate bonds (up 43 per cent). Chinese Mainland-related issuers were the leading contributors to corporate bond transactions, illustrating Hong Kong’s vital role as an offshore fund-raising hub.
“The new records of sales and market participation reflect global investors’ confidence in Hong Kong as a leading international financial centre. The robust performance of FICC-related products also underscores the city’s evolving role as an up-and-coming FICC hub,” said the Executive Director of Intermediaries of the SFC, Dr Eric Yip. “By grasping new industry trends, the SFC will continue to collaborate closely with stakeholders to drive the quality growth of Hong Kong’s financial ecosystem.”
“The strong growth captured in this year’s survey is a clear testament to investor confidence in Hong Kong’s asset and wealth management industry,” said the Executive Director (Banking Conduct) of the HKMA, Mr Kenneth Hui. “The HKMA will continue to adopt a balanced, proportionate regulatory approach, to ensure robust investor protection while fostering a positive customer experience and supporting the industry’s continued growth.”
Other major observations from the survey included:
Note 1: The annual survey questionnaires were sent to 2 502 licensed corporations and 109 registered institutions licensed or registered for Type 1 (dealing in securities), Type 4 (advising on securities) or both regulated activities, and more than 99 per cent of them responded. The survey covered the sale of non-exchange-traded investment products from January 1 to December 31, 2025 (the reporting period) by respondent firms to non-professional investor clients, individual professional investors (PIs) and certain corporate PIs. The first SFC-HKMA joint survey was published in 2021.
Note 2: FICC-related products include money market funds, bond funds, debt securities, currency-linked and commodity-linked structured products, currency swaps. Issued at HKT 15:00
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16 young officers bound for UN
Source: Hong Kong Information Services
A ceremony, attended by Chief Executive John Lee, was held today to mark the participation of a record-high 16 young public officers from Hong Kong in the United Nations Junior Professional Officer Programme.
The young officers are the third batch of Hong Kong officers to join the programme. They were recommended for participation by the Ministry of Foreign Affairs and the ceremony was held at the Office of the Commissioner of the Ministry of Foreign Affairs in the HKSAR (OCMFA).
The officers will be working at the UN’s headquarters in New York and at the organisation’s offices in Geneva, Vienna and Nairobi as Chinese personnel. They will begin leaving to take up two-year tenures from this month.
Addressing the ceremony, Mr Lee outlined that the “The First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)” will be promulgated soon. He said the document will fully align with the nation’s 15th Five-Year Plan, improve the mechanisms for Hong Kong to assume a greater role in the country’s opening up to the world, and harness the city’s role as an important window for exchange and mutual learning between Chinese and Western cultures.
Mr Lee added that by applying their professional expertise and perseverance to the international arena, Hong Kong youths can exemplify the Hong Kong SAR’s alignment with national strategies and contribution to overall national diplomacy.
He iterated that it is Hong Kong’s mission to assist the nation’s endeavours to build a global community with a shared future, and stressed that the young public servants from Hong Kong will bring together the city’s professional strengths and practical experience across a number of key fields.
The Chief Executive urged the officers to act with three “hearts”: a heart for the nation, a heart for Hong Kong and a heart for the world.
He said they should serve as pioneers in the great rejuvenation of the Chinese nation, as a driving force in promoting Hong Kong’s high-quality development, and contribute to the city’s role as a “super connector” and “super value-adder” connecting the nation with the world.
Mr Lee spoke with the officers to learn about their preparations for the programme, and wished them every success in their work at the UN.
The 16 officers are from the Financial Services & the Treasury Bureau; the Agriculture, Fisheries & Conservation Department; the Census & Statistics Department; the Civil Engineering & Development Department; the Customs & Excise Department; the Department of Justice; the Electrical & Mechanical Services Department; the Hong Kong Observatory; the Hong Kong Police Force; the Intellectual Property Department; the Lands Department; and the Independent Commission Against Corruption.
InvestHK highlights Hong Kong’s unique advantages as go-global platform for Mainland enterprises in Fujian
Source: Hong Kong Government special administrative region
InvestHK highlights Hong Kong’s unique advantages as go-global platform for Mainland enterprises in Fujian
The national 15th Five-Year Plan explicitly supports Hong Kong in leveraging its strengths in professional services to assist enterprises in going global, giving full play to Hong Kong’s unique advantages of enjoying the strong support of the motherland while being closely connected to the world. In October 2025, the Ministry of Commerce and other central authorities issued the “Guiding Opinions on Further Improving the Overseas Comprehensive Service System”, which sets out how the advantages of Hong Kong and Macao in cross-border investment and trade, finance and legal services will be harnessed to jointly strengthen the capacity to serve enterprises going global. In February this year, the Ministry of Commerce and the Hong Kong Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region Government signed the Memorandum of Understanding on strengthening co-operation and exchange in the provision of comprehensive overseas services, providing solid top-level policy support for the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force).
Held under the theme “Connecting the World through Hong Kong”, the morning promotion and exchange seminar and business matching session was jointly organised by the Ministry of Commerce, the Investment Promotion Agency of the Ministry of Commerce, InvestHK, the Hong Kong Economic and Trade Office in Guangdong (GDETO), and the Hong Kong Trade Development Council (HKTDC). During the policy interpretation of the seminar, Deputy Director-General of the Department of Foreign Investment Administration of the Ministry of Commerce Mr Wu Di explained the policies relating to “bringing in” and “going global”, while Associate Director-General of InvestHK Ms Loretta Lee outlined Hong Kong’s policies for investment promotion.
Ms Lee said, “Under the ‘one country, two systems’ framework, Hong Kong, as an international financial centre, boasts a world-leading capital market that offers convenient and diversified financing channels. It is also deeply integrated with the Guangdong-Hong Kong-Macao Greater Bay Area, where complementary strengths facilitate global supply chain management for enterprises. Hong Kong is now actively developing the Northern Metropolis to build a world-class innovation and technology hub. Hong Kong is not only a ‘super connector’ but also a ‘super value-adder’ that creates tangible value for enterprises. InvestHK serves as one of the core members of the GoGlobal Task Force, which is steered by the Secretary for Commerce and Economic Development, providing one-stop, tailored support for enterprises establishing a presence in Hong Kong.”
In the afternoon, the Fujian Provincial Department of Commerce and the Xiamen Municipal Bureau of Commerce, together with members of the GoGlobal Task Force, including InvestHK, the GDETO, and the HKTDC, jointly organised the Fujian-Hong Kong Joining Hands for Win-Win Development Seminar and Fujian Enterprises Going Global and Fujian-Hong Kong Economic and Trade Promotion Exchange Seminar. The event was attended and supported by Second-level Inspector of the International Cooperation Department, Ministry of Commerce Ms Yang Hao andDeputy Director-General of the Fujian Provincial Department of Commerce Mr Lin Bendong.
In his welcome remarks at the seminar, the Director of the GDETO, Mr Anthony Li, said, “Exchanges and co-operation between Fujian and Hong Kong enjoy natural advantages and deep-rooted ties. Hong Kong has long been Fujian’s largest source of foreign investment, as well as a bridgehead for Fujian enterprises going global. Hong Kong can serve as a ‘home port’ platform for enterprises going global, helping them guard against risks and operate in compliance throughout the process, while pooling global capital and opening up business opportunities worldwide. Through the trio of the overseas Hong Kong Economic and Trade Offices, InvestHK and the HKTDC, the GoGlobal Task Force builds bridges for Mainland enterprises in overseas markets and helps them find overseas partners. In early June, the Chief Executive led a delegation to two Central Asian countries. Among the Mainland enterprise representatives on the mission were two Fujian enterprises, which were successfully connected with the Central Asian market, helping them tap new markets under the BRI.”
The afternoon’s promotion and exchange seminar concluded with a panel discussion moderated by Deputy Director of the GDETO and the Head of Business and Talent Attraction/Investment Promotion of InvestHK Guangzhou Office, Ms Helen Yip. Representatives from the HKTDC, Hong Kong financial and legal professional services providers, and a representative from a Mainland enterprise using Hong Kong to go global, shared views on how Hong Kong’s advantages can empower Fujian enterprises to expand into overseas markets.
Issued at HKT 19:00
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Taiwan Wins Two Honors at the 2026 M&C Asia Stella Awards
Source: Republic of China Taiwan
Taiwan has once again gained international recognition for its achievements in the MICE industry. The Ministry of Economic Affairs'(MOEA) long-running Taiwan MICE Promotion Program, more commonly referred to as MEET TAIWAN, continues to enhance the international competitiveness of Taiwan’s MICE industry.
Recognizing Taiwan’s efforts, the 2026 M&C Asia Stella Awards named Taiwan as the “Best Exhibitions Destination-Asia” for the third consecutive year, while the Taipei International Convention Center (TICC) won the “Best Sustainability Initiative-Convention Centre” award for the first time. Together, the two awards underscore Taiwan’s established capabilities in the MICE sector and its steady progress toward sustainable transformation. These two awards set Taiwan apart from other convention venues throughout Asia.
The Taiwan International Trade Administration (TITA), Ministry of Economic Affairs (MOEA), noted that the Stella Awards are organized by M&C Asia, a MICE industry publication under Singapore-based Northstar Meetings Group that selects winners through votes from readers and MICE professionals around the world.
Widely regarded as one of the leading awards in Asia’s MICE industry, the Stella Awards honor destinations, venues, hotels, and related service providers for outstanding performance. At this year’s awards ceremony in Kuala Lumpur, Malaysia, Hung-Lin Yuan, Director of the Taipei Economic and Cultural Office in Malaysia, accepted the awards. Taiwan’s three consecutive years of recognition underscore the international confidence that MICE professionals have placed in the quality of its business events environment and services.
TITA emphasized that Taiwan continually advances both the hardware and software of its MICE infrastructure. With the opening of the Taichung International Convention and Exhibition Center this year, key cities including Taipei, Taoyuan, Taichung, Tainan, and Kaohsiung now provide more industry coverage.
This has helped shape a comprehensive Taiwan Business Events Corridor, giving domestic and international organizers a broader range of venues for large-scale exhibitions and international conferences. TITA will continue to integrate the industrial clusters and local strengths of cities throughout Taiwan and leverage the synergy between MICE events and industry development.
As the global transition toward net-zero emissions gathers pace, TITA said the MOEA has been steadily promoting green practices. These efforts span venue energy management, carbon emissions accounting, ISO international certification, and greenhouse gas reduction at exhibition and convention venues, helping industry operators embed sustainability into their day-to-day operations.
TICC’s first-time win of the Best Sustainability Initiative-Convention Centre award highlights not only the achievements of an individual venue, but also the broader evolution of Taiwan’s MICE industry, from a focus on infrastructure development toward greater sustainability and internationalization.
TITA said it will continue to promote Taiwan’s high-quality MICE brand through MEET TAIWAN, combining the island’s industrial strengths with its diverse culture, cuisine, and tourism resources to create experiences that deliver business value while embracing sustainability and local character.
With the goal of attracting more international conferences, exhibitions, and business professionals to Taiwan, TITA aims to position business events as more than standalone occasions and transform them into important platforms for industry collaboration and the creation of new business opportunities.
Early flu shots urged
Source: Hong Kong Information Services
Secretary for Health Prof Lo Chung-mau received a seasonal influenza vaccination (SIV) at Sai Wan Ho Family Medicine Clinic today, along with other health officials and frontline healthcare workers.
Prof Lo stressed that an SIV is one of the most effective means to prevent seasonal flu and its complications. It takes about two weeks following vaccination for antibodies to develop in the body and provide protection against influenza.
“To be prepared for the current summer and possible winter influenza seasons in one go, I strongly appeal to all members of the public to receive SIV as early as possible,” he said.
Over 2.03 million vaccine doses were administered under various SIV programmes in 2025-26, maintaining overall target population coverage rates comparable to the previous year.
The SIV rate for those aged between six months and 17 reached 64.8%, a rise of 13.1 percentage points over the average of the past three seasons. The rate for adolescents aged from 12 to 17 reached 61.4%, an increase of 22.6 percentage points compared to the same three-season average.
Under the Seasonal Influenza Vaccination School Outreach Programme (SIVSOP), more than 2,300 schools had completed SIV outreach activities by the end of 2025. This meant 99% of all schools were covered, compared to 91% the previous year.
The Government will launch the 2026-27 SIV Programmes on September 17, providing free or subsidised SIVs for children and adolescents aged between six months and 17, adults aged 18 to 49 with chronic medical conditions, people aged 50 or above, pregnant women and healthcare workers.
For the 2026-27 SIV programmes, the Government has procured over 1.3 million doses of four types of influenza vaccines of high quality at competitive prices.
Prof Lo emphasised that the Government has consistently prioritised SIV programmes and has introduced enhancement measures every year to raise vaccination coverage rates. The Government will implement four optimising initiatives this year.
These include optimising vaccine procurement arrangements through a diversified, non-single-supplier procurement approach, thereby ensuring the reliability and sustainability of vaccine sources.
Simultaneously, the Government will introduce a new Electronic Consent Form feature through eHealth, allowing the public to submit e-consent forms for the SIVSOP and the Vaccination Subsidy Scheme via the eHealth mobile application.
To stabilise the vaccine supply in the private market, influenza vaccine doses will increase to 300,000 and eligible doctor groups will be expanded.
Finally, authorities will strengthen the mobilisation of community resources and collaborate with more units to promote and arrange vaccination activities.
Haze Situation Update (07 September 2026)
Source: Government of Singapore
Haze Situation Update (07 September 2026)
07 Sep 2026
Air Quality Forecast
24-hour PSI: Moderate – Low Unhealthy range
Health Advisory
Healthy persons: If 24 hr PSI is Moderate, normal activities. If 24 hr PSI is Unhealthy, reduce prolonged or strenuous outdoor physical exertion.
Elderly, pregnant women & children: If 24 hr PSI is Moderate, normal activities. If 24 hr PSI is Unhealthy, minimise prolonged or strenuous outdoor physical exertion.
Persons with chronic lung/heart disease: If 24 hr PSI is Moderate, normal activities. If PSI is Unhealthy, avoid prolonged or strenuous outdoor physical exertion.
Refer to the 1-hr PM2.5 for immediate activities, and the 24-hr PSI forecast to plan ahead.
Singapore, 07 September 2026 – Conditions over Singapore today were fair. As at 6pm, the 1-hr PM2.5 concentration readings were 22 – 36 μg/m3, in Band 1 (Normal), and the 24-hr PSI was 63 – 85, in the Moderate ran
Update on Hotspot and Haze Situation
- Moderate to dense smoke plumes from fires in southern and central Sumatra, as well as West Kalimantan, continued to drift toward Singapore.
- Some showers are expected over parts of Kalimantan in the coming days. However, dry conditions are expected to persist over Singapore and southern and central Sumatra. If the fires continue, there remains a risk of smoke haze affecting Singapore. The 24-hr PSI for Singapore is forecast to be in the Moderate to Low Unhealthy range.
Activity Guidelines
- The health impact of haze is dependent on one’s health status, the PSI level, and the length and intensity of outdoor activity. For immediate outdoor activities, please check the 1-hr PM2.5 concentration readings and personal guide. Use the 24-hr PSI forecast and corresponding health advisories for planning next day outdoor activities.
- For updates, visit our haze microsite ( www.haze.gov.sg), the NEA website (www.nea.gov.sg), MSS website ( www.weather.gov.sg), mobile app (myENV) or follow us on NEA Facebook ( www.facebook.com/NEASingapore). For information on the distribution of hotspots detected over the past fortnight in the region, please refer to the ASEAN Specialised Meteorological Centre (ASMC) website at http://asmc.asean.org.
Areas with lighter smoke haze are not indicated as they cannot be clearly discerned from satellite imagery.
– End –
Speech by FS at HKSTP Co-Development and Investment Conference 2026 (English only)
Source: Hong Kong Government special administrative region
Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKSTP (Hong Kong Science and Technology Parks) Co-Development and Investment Conference 2026 today (September 7):
Cordelia (Chairman of the HKSTP, Ms Cordelia Chung), Terry (Chief Executive Officer of the HKSTP, Mr Terry Wong), Lillian (Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong), investors, start-ups, distinguished guests, ladies and gentlemen,
Good morning. It is a pleasure to join you at the inaugural Co-Development and Investment Conference. I must say the name of this conference goes straight to the heart of the matter: co-development and co-investment. When capital markets and the technology industry are properly connected – when they work as one – innovation accelerates.
Over the next two days, this conference brings together some 300 investors and more than 500 start-ups, along with leading figures from finance and academia, for a full and inspiring programme of discussions, pitching and business matching. And the journey doesn’t end in Hong Kong. The Conference continues for another four days in Dongguan and Hangzhou, linking three cities and three innovation centres in a single, six-day programme.
Innovation and technology are, without question, the global economy’s most powerful engines today. Artificial intelligence is advancing at extraordinary speed, setting off a wave of capital spending – on computing power, equipment and infrastructure – and opening up practical applications in almost every field. We see this across Asia, where AI is lifting trade and reshaping regional supply chains. And we see it vividly here in Hong Kong, in the strong growth of our electronics and semiconductor exports and in our capital market’s appetite for AI-related listings.
More important still, AI is transforming industry after industry. In biomedicine, for instance, it is dramatically compressing the time it takes to discover a new drug. And as AI moves into the physical world – into factories, shops and homes – it will generate a difference in kind rather than one merely of degree, with the range of applications expanding exponentially.
Opportunities of this magnitude call for real-world settings, where new technologies can be tested and proven. They call for innovation that is able to translate scientific discovery into commercial application. And they call for a capital chain deep enough to take innovation to the global market.
That is why both sides of this room are essential. For global investors, in a world overshadowed by geopolitics, the requirement is twofold: stability and security on the one hand, attractive returns on the other. For innovators and entrepreneurs, capital alone is not enough. They need an industrial ecosystem, a steady supply of talent and access to the full range of innovation resources.
Nowhere is the combination of finance and innovation stronger than in the Guangdong-Hong Kong-Macao Greater Bay Area. Hong Kong is an international financial centre, a magnet for talent from around the world and home to fast-rising innovation. That makes Hong Kong a natural complement to our sister cities in the Greater Bay Area, with their formidable strengths in advanced manufacturing, commercialisation and scaling.
Indeed, Shenzhen-Hong Kong-Guangzhou is the world’s leading innovation cluster, according to the World Intellectual Property Organization. This year’s ranking will be released tomorrow, and we await it with unshakeable confidence.
I understand my colleague, Lillian, the Under Secretary for Innovation, Technology and Industry, will have more to say about Hong Kong and innovation in her keynote shortly. Let me just say this: our innovation flagships, including Hong Kong Science and Technology Parks, play an indispensable role: nurturing start-ups, building networks, developing talent and deepening collaboration with regional and international partners.
For the next few minutes, allow me to talk about capital.
We are building a capital ecosystem that works for start-ups and serves innovation. According to the HKEX (Hong Kong Exchanges and Clearing Limited), the technology sector’s share of turnover in our market has increased over the past decade from 15 per cent to 47 per cent, and the turnover itself has grown more than eightfold.
That’s the result of sustained reform, carried out hand in hand with the market, to make it easier for technology companies to list here. In 2018, Hong Kong opened to companies with weighted voting rights structures. In 2023, we introduced Chapter 18C to the Main Board Listing Rules for specialist technology companies yet to turn a profit. And we are now, once again, reviewing the listing regime, so that it fits the needs of innovative companies even better.
At the front end of the funding spectrum, we are also committed to developing patient capital – capital willing to take risk, invest early and invest for the long term – in support of emerging and future industries.
The Hong Kong Investment Corporation (HKIC) is central to that effort, investing with the market and drawing private capital into these fields. The Corporation has now invested in more than 200 projects, and for every dollar it commits, more than eight dollars of long term capital follow. Its initial HK$62 billion capital has been substantially deployed and, as I mentioned in the Budget, we will inject further capital into the HKIC at the appropriate time, giving greater momentum to our innovation development.
Behind all these efforts is a simple vision: that a company at any stage of its development can find the right capital partner in Hong Kong. And our proposition is straightforward. We want global investors and innovators to meet each other – right here.
Ladies and gentlemen, when it comes to innovation, Hong Kong remains wide open to every investor and every innovator. We welcome you all – from Asia, from the Middle East, from the Americas, from Europe and beyond. It’s right here in Hong Kong, where ideas take shape, where capital moves freely, where talent chooses to stay.
And where your next business and investment opportunity awaits.
I wish you all a rewarding Conference, and for those coming from afar, an enjoyable stay in Hong Kong, Asia’s world city. Thank you very much.
Issued at HKT 11:40
LegCo Panel on Transport concludes duty visit in Beijing
Source: Hong Kong Government special administrative region – 4
The following is issued on behalf of the Legislative Council Secretariat:
The delegation of the Legislative Council (LegCo) Panel on Transport concluded its duty visit in Beijing today (September 5), and will depart for Hong Kong in the evening.
In the morning, the delegation visited the headquarters of Amap to receive a briefing from representatives on how traffic big data analysis is utilised to assist the Government in real-time monitoring of highway traffic flow and road congestion, enabling precise traffic diversion and enhancing traffic management effectiveness.
Members noted that Amap integrates map, navigation and real-time traffic information to enable users to plan efficient travel routes. Members also explored with representatives on how to use artificial intelligence to deepen traffic data analysis, in order to effectively alleviate road traffic load and promote smart transport development.
Concluding the four-day duty visit, the delegation leader, Dr Chan Han-pan, stated that the duty visit was fruitful and of great significance. He said, “The visit has deepened Members’ understanding of Beijing’s ride-hailing platforms, smart transport applications, autonomous driving and urban road planning, and we were deeply impressed that local developments are very mature and advanced. The experience gained from this duty visit will help Members provide precise recommendations to the Administration in the future regarding the development of the Northern Metropolis and overall transport policy, thereby facilitating the implementation of relevant various transport measures in a more efficient and grounded manner.”
The delegation, led by the Chairman of Panel on Transport, Dr Chan Han-pan, visited Beijing from September 2 to 5. A total of 13 members and non-members of the Panel participated in the duty visit. The Secretary for Transport and Logistics, Ms Mable Chan, has also led a government delegation to join the duty visit.