HK$17 billion Hong Kong business boost and 4,000 new jobs trumpeted by finance secretary Paul Chan

More than 25 top businesses have pledged to make major investments and more on way, financial secretary says

Many of the companies in innovation and technology sector, with jobs in research and development, senior management

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A total of 25 businesses have promised to invest billions of dollars in Hong Kong and create thousands of jobs.
Photo: Edmond So

Published: 5:07pm, 6 Aug 2023Updated: 7:28pm, 6 Aug 2023

More than 25 top businesses have pledged to invest over HK$17 billion (US$2.2 billion) in Hong Kong and create at least 4,000 jobs, the city’s finance minister has said.

Writing in his weekly blog on Sunday, Paul Chan Mo-po said he expected more companies to expand their operations in the city this year and that the government was in “deep discussions” with mainland Chinese and overseas firms.

“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,” the financial secretary explained.

The minister said that many of the 25 were in the innovation and technology sector, with a market or estimated value of more than 10 billion yuan (US$1.4 billion) each.

Finance secretary Paul Chan announces major investments in Hong Kong and says more will follow. Photo: Martin Chan

Most of the new posts would be in research and development, as well as senior management, Chan said.

He added that companies with plans to expand, or that had already increased their operations in the city, included Biren Technology, Horizon Robotics, Dmall and Yuan Hua Tech.

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