HK finance chief: Over 25 tech firms to set foot in Hong Kong

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Over 25 firms in the innovation and tech sector have promised to invest over HK$17 billion in Hong Kong and create at least 4,000 jobs, according to Hong Kong's finance chief Paul Chan.

Chan said in his weekly blog on Sunday that the government team including the Innovation, Technology and Industry Bureau (ITIB) and Office for Attracting Strategic Enterprises (OASES) has been in talks with over 200 firms and more than 25 of them have set foot in or planning to expand to Hong Kong.

Out of the 25 companies, many of them are worth more than HK10bn with leading skills and will invest over HK$17bn in Hong Kong and create more than 4,000 job opportunities. A few tech giants have revealed plans to expand their businesses in Hong Kong including Biren Technology, Horizon Robotics, Dmall and Yuan Hua Tech, said Chan.

Other tech firms such as Huawei, Meituan and JD.com have also been developing new businesses in the city, and Chan believed that other overseas teach firms will follow suit.

Chan said: “In recent years, the government has worked hard in developing the innovation and technology which invested nearly 200 billion and actively recruit talents. The development of innovation and technology in Hong Kong must be accelerated to inject greater momentum into economic development and create more and better job opportunities for the people.”

He added that by bringing together companies that are leading and have high potential, it can drive the development of relevant industry chains and attract more companies and talent to Hong Kong, creating a benign cycle for the innovation and technology ecosystem.

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