Hong Kong has secured HK$22.5 billion ($2.88 billion) in actual investment as more than 100 international high-tech companies have established or expanded their presence in the special administrative region with the assistance of the SAR government’s Office for Attracting Strategic Enterprises (OASES) in recent years, Financial Secretary Paul Chan Mo-po said on Sunday.
Writing in his weekly blog, Chan said the HKSAR government will announce on Monday a new batch of companies planning to set up research and development facilities, treasury centers or regional headquarters in Hong Kong under its strategic enterprise attraction initiative.
The announcement follows a previous batch of companies under the scheme unveiled in October last year.
Chan said the companies, including several with a market capitalization topping HK$100 billion, span a range of cutting-edge fields — from life and health technology, the low-altitude economy and artificial intelligence to new energy materials and financial technology.
“Some of the life and health technology firms are global leaders in their fields, and will conduct clinical trials in Hong Kong, which is expected to further support the city’s international standing in medical research and development,” he said.
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The financial chief said as the SAR actively aligns with the country’s 15th Five-Year Plan (2026-30) and the broader national development agenda, it will fully capitalize on the unique advantages of “one country, two systems”. The city will strive to boost its connectivity with the international business community, and focus on high-value-added industries to accelerate the development of a more vibrant innovation and technology ecosystem.
The HKSAR government established OASES — a dedicated unit — in 2022 to engage high-potential and representative strategic companies worldwide, with the aim of attracting them to expand their foothold in the city and inject fresh momentum into the local economy.
Chan said OASES has since attracted over 100 companies, bringing about HK$22.5 billion in actual investment to Hong Kong — exceeding the authorities’ initial projected figures by more than 30 percent.
The firms — more than half of which are listed on Hong Kong’s stock market — together have created some 8,000 jobs across various high-value-added sectors, such as scientific research, AI, healthcare and professional services, he said.
As of March this year, the total commercial and industrial floor area occupied by these enterprises had reached 2.6 million square feet, up 40 percent year-on-year, reflecting the continued expansion of their business activities in Hong Kong.
“Looking ahead, we will continue to spare no effort in attracting more high-quality enterprises and provide targeted policy support to facilitate their development in Hong Kong, thereby promoting the deep integration of innovation, industry and capital,” Chan said.
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Last year, OASES attracted more than 30 leading high-tech companies from the Chinese mainland and overseas to establish or expand their operations in Hong Kong, including British pharmaceutical company GlaxoSmithKline, Swiss healthcare firm Roche, and fast-growing mainland AI and autonomous driving firms such as WeRide and Z.AI.
To lure more enterprises to set up in Hong Kong, the SAR government plans to roll out a package of policy incentives. Christopher Hui Ching-yu, secretary for financial services and the treasury, said earlier the authorities are working on deciding the target sectors for new tax concessions and the implementation of the support measures.
The details will be announced in the second half of this year, and a draft amendment bill on the tax incentives will be tabled in the Legislative Council.
Contact the writer at gabylin@chinadaily.com
