More than 30 companies to invest HK$30 billion in Hong Kong to help ‘spur city’s rise’ as I&T hub

Companies will create 10,000 jobs in fields such as life sciences, biotech, fintech, advanced manufacturing and data sciences

‘You come from all over the world and you bring with you innovation, technology and expertise in a great variety of sectors and areas,’ city leader John Lee says

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Hong Kong leader John Lee (back row, centre) with other top officials at the signing ceremony at government headquarters on Wednesday. Photo: May Tse

Published: 5:42pm, 4 Oct 2023Updated: 11:25pm, 4 Oct 2023

More than 30 foreign and mainland Chinese companies have pledged to invest about HK$30 billion (US$3.83 billion) in Hong Kong, which the city’s leader said would “help spur the city’s rise” as a global centre for innovation and technology (I&T).

The investment was expected to create about 10,000 jobs, most of them based in the Northern Metropolis development area, which would take shape along the border with Shenzhen, the government on Wednesday said.

Chief Executive John Lee Ka-chiu, who along with other senior officials, including Financial Secretary Paul Chan Mo-po, attended the signing ceremony for the deals hosted by the Office for Attracting Strategic Enterprises (OASES), said the companies that had made commitments spanned life sciences, biotech, fintech, advanced manufacturing, artificial intelligence and data sciences.

“Hong Kong welcomes you all with open arms,” he said. “You come from all over the world and you bring with you innovation, technology and expertise in a great variety of sectors and areas.”

He added: “These smart strategic companies and the many more that follow in the coming months and years will help spur Hong Kong’s rise as an innovation and technology centre.”

Hong Kong is building a innovation and tech hub along the border, known as the Northern Metropolis. Photo: May Tse

More than 200 companies have been contacted by the authorities in a bid to attract strategic enterprises to the city and the number is expected to grow to almost 300 by the end of the year.

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