Attracting investment from enterprises and nurturing local research capacity and talent are essential to Hong Kong's development as an international innovation and technology (I&T) center, Financial Secretary Paul Chan Mo-po said on Oct. 25, 2026.
In his weekly blog, Chan said the Office for Attracting Strategic Enterprises welcomed its seventh batch of 18 strategic companies on Thursday, with about half coming from outside the Chinese mainland. The latest intake brings the total number of strategic enterprises establishing or expanding operations in the Hong Kong Special Administrative Region (HKSAR) to 142, with expected investment of about HK$84 billion (US$10.8 billion) and around 27,000 jobs over the next few years.
Chan said investment commitments are beginning to translate into results. By late last month, companies from the first six batches had invested HK$28.3 billion and hired more than 10,300 people, surpassing interim targets by 30% and 34%, respectively.
"Beyond industry and investment, talent is the foundation of innovation and technology," Chan wrote, adding that companies looking to set up in Hong Kong need teams covering research, engineering, commercialization, and business management.
He said the emphasis on talent was also reflected at InnoCarnival 2026, which opened at Hong Kong Science Park on Saturday. Chan noted that Hong Kong's frontier research strengths, financial services, and international talent pool could form a pathway for turning ideas into industries.
Looking ahead, Chan said Hong Kong's first Five-Year Plan for Economic and Social Development (2026–30) aims to better align university talent development and research with industry needs. He added that the government will leverage the city's financial strengths to channel more patient capital to research teams and startups as they move from research and development to real-world application.
Running from Oct. 24 to Nov. 1, InnoCarnival 2026 is a nine-day event showcasing local I&T achievements and featuring an aerospace thematic zone highlighting research projects from local universities.
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