Bright future ahead l Commitment to Innovation & Technology l Ideal biotech hub

Business & Economy


Bright future ahead

Hong Kong is poised to play an active role in the developments of the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Bay Area, said Chief Secretary for Administration, Matthew Cheung, at an investment conference (Mar 19). He added that the bountiful new opportunities in such areas as financial services, innovation and technology as well as infrastructure projects, would also provide new impetus for the city’s economic growth and further reinforce Hong Kong’s position as an international financial, transport and trade center.


Innovation & Technology


Commitment to innovation

Hong Kong is committed to building a new model of development, one that is focused on the creation of an enabling environment for business and business innovation, and on the application of innovation and technology to retool pillar industries and spark entirely new ones, said Chief Executive Carrie Lam (Mar 21). The government has unveiled various initiatives in this respect, including the Hong Kong Smart City Blueprint, the introduction of tax incentives for corporations to increase spending on research and redevelopment, and expanding the use of innovation and technology within the government.


Ideal biotech hub


Hong Kong is firmly embracing innovation and technology as the engine for future growth, and is committed to investing resources to bolster the areas of biotech, artificial intelligence, smart city and Fintech. Speaking at the inaugural HKEX Biotech Summit (Mar 22), Financial Secretary Paul Chan noted that Hong Kong’s plethora of financing opportunities, coupled with the talent of its people, and its supportive, business-friendly and innovative culture, all serve to make the city the ideal biotechnology hub. He also highlighted government led initiatives, including the upcoming launch of the Technology Talent Scheme to recruit post-doctoral talent.


Source: Hong Kong Economic and Trade Office

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