Clara Chan Ka Chai, the Chief Executive Officer of the Hong Kong Investment Corporation (HKIC), which manages a HK$62 billion government fund, stated that three major investment "tracks" have been identified, including key and core technology, life sciences, and new energy technology.
Currently, 4 funds have been launched for development, and the team is actively working on front, middle, and back-end operations, establishing databases and project portfolios.
She said the current workload is full and busy, and the team is becoming more and more enthusiastic. In exchanges with different sectors and overseas individuals, they believe that Hong Kong has the conditions to develop innovative technology.
During a radio program, Clara Chan Ka Chai said that the HKIC has a dual mission - to ensure medium to long-term investment returns and, more importantly, to use the funds to drive the development of the ecosystem and industries.
The two are complementary, and she believes that as long as the right companies are selected for investment, the success rate will be higher, and there will be returns in the medium to long term.
However, as innovation and technology involve new elements, the HKIC will also give time, describing it as "patient capital."
Clara Chan Ka Chai said that the enterprises invested in by the HKIC must make substantial commitments. If they do not commit to contributing to Hong Kong's development, the HKIC will not invest.
For example, the Hong Kong-based "unicorn" SmartMore Group, which has signed a strategic cooperation agreement with the HKIC, has stated that it will establish an artificial intelligence research institute in Hong Kong, and if it matures and goes public in the future, Hong Kong will be the priority listing location.
She emphasized that since the HKIC uses public funds, there must be strict screening and review when selecting investment companies. She revealed that the HKIC has already contacted hundreds of companies, meeting 8 to 10 per day, and both local, mainland and overseas potential partners are willing to cooperate with the HKIC.
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