Financial Secretary Paul Chan on Monday said the Shenzhen-Hong Kong-Guangzhou cluster ranking top in the Global Innovation Index is recognition of the region's strength.

The index by the World Intellectual Property Organisation measures innovation activity with criteria including international patent filings, scientific publications and venture capital deals.

Speaking at the launch event for this year's index, Chan said the addition of venture capital deals as a new metric is timely and judicious.

"Innovation today is not only driven by ideas and talent but also by capital, the essential field enabling [and] inspiring ideas to emerge as real-world enterprises," he said.

Secretary for Innovation, Technology and Industry Sun Dong spoke to reporters after the launch and said the top ranking is welcomed by the SAR government.

"Through a series of policy initiatives, I believe Hong Kong's start-up innovation will become more vibrant."

Technology and innovation sector lawmaker Duncan Chiu was happy with the ranking.

"This is years of effort from the several governments in the region to yield these excellent results," he said, adding that further effort can be put into promoting more private sector investment.

Leading universities in Hong Kong also welcomed the ranking, calling it a testament to the Greater Bay Area's growing research and innovation prowess.

University of Hong Kong (HKU) president Zhang Xiang highlighted his institution's significant contributions to patents and research, noting that HKU is committed to "advancing groundbreaking innovations that address global challenges."

The head of the Chinese University of Hong Kong (CUHK), Dennis Lo, pointed to his university's portfolio of over 2,400 granted patents.

He pledged to continue leveraging the unique strengths of CUHK and its Shenzhen campus to deepen research collaboration across the region.

"By fostering industry-academia-research partnerships, promoting knowledge transfer and nurturing talent, I believe the Greater Bay Area will become a powerful engine for future innovation," he said.

Meanwhile, Nancy Ip from the Hong Kong University of Science and Technology (HKUST) noted her university's top ranking in China for patent influence.

The HKUST president also said that her school has contributed to the GBA's growth through an "unparalleled record of nurturing unicorns, incubators and ISD programs that empower tomorrow’s entrepreneurs."
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Last updated: 2025-09-01 HKT 21:45