Financial Secretary Paul Chan on Sunday said the government is stepping up efforts to transform the city’s economy, aiming to keep it competitive, create better jobs, and improve people’s lives.

In a blog post, he said upgrading industries and building a stronger innovation ecosystem are key to long-term growth.

To make this happen, he said the government is actively attracting major companies, investment, and talent from around the world.

He mentioned that agencies including the Innovation, Technology and Industry Bureau, the Office for Attracting Strategic Enterprises (OASES), InvestHK, and the Hong Kong Investment Corporation (HKIC) are working together to bring in high-potential businesses and help them grow using Hong Kong’s role as a “super-connector” to global markets.

He noted that since its launch in late 2022, OASES has brought in 84 leading technology firms, which are expected to invest around HK$50 billion in the city and create over 20,000 jobs, while HKIC has invested in over 100 companies, with more than 10 already applying or preparing to list in Hong Kong.

"Attracting key enterprises and attracting talent complement and reinforce each other. A more diversified industrial development, together with quality job opportunities, education, and living environment, will help us retain the talent we attract and enable them to thrive, forming a virtuous cycle in which industry and talent advance in tandem,” he wrote.