Financial Secretary Paul Chan on Thursday said Hong Kong can leverage its research and financial strengths to contribute to the country's tech self-sufficiency push, as the SAR works on drafting its own first five-year development strategy.

Speaking at a seminar on the country's new 15th five-year blueprint in Beijing, Chan also reiterated government's determination in transforming the Northern Metropolis into a hub for the city's innovation and tech development.

In his speech, Chan noted the new national five-year plan has made comprehensive arrangements on how to better develop scientific and technological innovation in the country.

He added the SAR could aid the country to achieve tech self-sufficiency at a much faster pace — thanks to its emerging strengths in fields such as artificial intelligence, life science, fintech, as well as new energy and materials.

"From artificial intelligence to life sciences, from integrated circuits to commercial aerospace, we've seen new fields and industries emerging at a faster pace," he told some 400 participants in the capital.

"Hong Kong has a strong foundation of basic research capabilities, a thriving ecosystem of innovation, and also gathers innovative resources and talents from both home and abroad."

Chan pointed to the city's growing number of startups, which rose 11 percent year on year to exceed 5,200 last year, marking a record high, while some 280,000 professionals have arrived in the SAR over the past three years through various talent schemes.

More than 100 leaching tech enterprises, including several top pharmaceutical, AI, new energy and materials companies, were also drawn to the SAR over the past three years, he added.

Before attending the senimar, Chan met with Xia Baolong, director of the Hong Kong and Macao Affairs Office.

Secretary for Financial Services and the Treasury Christopher Hui, Secretary for Commerce and Economic Development Algernon Yau, as well as Secretary for Innovation, Technology and Industry Sun Dong, were also present.

Chan is set to take part in the China Development Forum 2026 between March 22 and 23, as well as attend the Mainland and Hong Kong Economic and Trade Co-operation Committee on March 23.

He's scheduled to return to Hong Kong on March 23.


Edited by Tony Sabine