The Hong Kong Investment Corporation (HKIC) will sign a strategic cooperation agreement with a Hong Kong-based industrial AI unicorn with a market capitalization of over US$1 billion on June 12, marking its first investment since its establishment in 2022. In response, Financial Secretary Paul Chan said on social media today (June 9) that he believed good news for the HKIC would come one after another.
Chan described the development of artificial intelligence as entering a "highly anticipated stage" but it is still important to find the right application scenarios to provide solutions, either by solving real-world issues or by creating new experiences, to maximize the value created.
He believes that with the gradual increase in the number of HKIC's partners and the number of Hong Kong-based technology enterprises that will invest more in Hong Kong, Hong Kong's innovation and technology ecosystem will become more vibrant.
The total market valuation of the unicorn enterprises in Science Park and Cyberport has reached tens of billions of US dollars, according to Chan.
"The authorities are adopting different approaches and policy tools in the hope of catalyzing new industries, modes and dynamics, fostering and developing new quality productivity in accordance with local conditions, and promoting high-quality development of the economy," he noted.
Comment