Financial Secretary Paul Chan said grooming local tech talent and attracting people in the field from outside Hong Kong are both important for the development of innovation and technology in the city.

Writing on his weekly blog, he noted that local tech hubs have been offering thousands of jobs in recent weeks.

The minister said about 500 firms will host a job fair at Cyberport later this week offering more than two thousand jobs, more than half of them related to artificial intelligence.

Last month, companies from the Science and Technology Park offered a thousand jobs in the industry.

Chan noted that in his budget last month, he asked more companies in the field to go to local schools to share their experience and inspire students.

The minister then said that the government's Hong Kong Investment Corporation will promote the development of AI technology, including hosting a forum on AI for global youth scientists.

"It will promote the technical exchange of AI and its industrial development, including open source technology. Among them, the design and application of the Risc-V open source computer chip is an important part of strategic development going forward," Chan wrote.

He said the firm will announce this week its partnership with a group focusing on Risc-V.