The Hong Kong government announced plans to prioritise advancements in technology and innovation. It aims to solidify its position as a global hub for artificial intelligence (AI) under the “one country, two systems” framework, leveraging its strategic advantages to drive this initiative.
Paul Chan, Hong Kong SAR’s Financial Secretary, stated during a press briefing that Hong Kong will focus on both cutting-edge research and practical applications. He said the goal is to make AI a cornerstone of the industry while helping traditional sectors modernise and transform.
To support these efforts, HK$1 billion has been allocated to establish the Hong Kong AI Research and Development Institute. This institute will lead research initiatives and promote the industrial application of AI technologies.
Boosting Fundraising and Industry Growth
In a move to support technology enterprises, the Hong Kong Exchanges and Clearing Limited is preparing a dedicated “technology enterprises channel” (TECH). This platform will help tech companies streamline their listing applications, according to Chan.
The government is also taking steps to encourage smart manufacturing. A two-year Pilot Manufacturing and Production Line Upgrade Support Scheme, known as manufacturing+, will launch this year with a budget of HK$100 million.
Under this program, businesses operating production lines in Hong Kong can access up to HK$250,000 in funding on a one-to-two matching basis. This support will help companies adopt advanced technology and develop smart production strategies.
Advancing Space Robotics and Sustainable Research
Chan also highlighted progress in frontier research, including the Hong Kong Space Robotics and Energy Centre under the InnoHK Research Clusters. The centre is working on a multi-functional lunar surface operation robot to contribute to China’s Chang’E‑8 mission.
Preparations are underway for a third InnoHK research cluster, which will focus on advanced manufacturing, materials science, energy innovation, and sustainable development.
Promoting Global Collaboration on AI
To enhance global cooperation and knowledge-sharing, Hong Kong will host several high-profile events. The Hong Kong Investment Corporation (HKIC) is organizing the first International Conference on Embodied AI Robot, bringing together leading tech companies, academic institutions, and investors to showcase the latest developments and applications in AI.
Additionally, the HKIC will host the inaugural International Young Scientist Forum on Artificial Intelligence. This event aims to encourage top talent to explore AI’s applications and further its development as a key industry.
New Steps to Promote Low-Altitude Economy
An interdepartmental Working Group on Developing Low-Altitude Economy is assessing applications for the first batch of Regulatory Sandbox pilot projects. This initiative seeks to expand low-altitude flight activities, supporting the sector’s long-term growth. Meanwhile, the review of civil aviation legislation is underway to create a more robust regulatory framework.
Recognizing the growing importance of Low Earth Orbit satellites, the government is also working on simplified procedures for licensing applications in this area.
These initiatives underline Hong Kong’s commitment to fostering innovation, supporting advanced industries, and driving sustainable growth.
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