Secretary for Innovation, Technology and Industry Sun Dong on Sunday said construction for the remaining areas in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone had been accelerated.

This came after the government proposed in its latest budget of earmarking HK$10 billion as initial capital to further develop the zone.

Speaking on a radio programme, Sun said development for the zone had entered its second phase and the HK$10 billion would be used for public-private sector collaboration.

Following the zone's launch at the end of last year, two wet laboratory buildings and one talent accommodation building under the first phase had been completed.

Sun said construction of the remaining five buildings had been accelerated to get them completed ahead of the original schedule.

"We launched the zone at the end of last year. We had previously proposed to finish the remaining five buildings in Phase 1 progressively from 2027. But now we changed our plan, and decided to complete them from the end of 2026," he said.

He explained the latest Five-Year plan for both the country and Hong Kong was generating increased demand.

"So now construction at the zone is happening 24 hours a day," he said.

As the Hetao area is a "spade-ready site" and a key national project, Sun said the area possesses advantages for future land tenders.

He also noted that authorities have received 27 letters of intent regarding the zone's Hong Kong Park section from local, mainland and overseas groups, reflecting a positive market response.


Edited by Tony Sabine