Permanent Secretary for Innovation, Technology and Industry Kevin Choi on Saturday said that officials are working to attract more international firms to the Hetao industrial zone.

Speaking on an RTHK radio programme, Choi, who also chairs Hong Kong-Shenzhen Innovation and Technology Park, pointed out that more than 90 firms have moved into the zone as of the end of May.

Mainland or local companies make up the majority of tenants in the zone, with overseas firms accounting for 14 percent.

Choi said mainland enterprises may have higher confidence in Hetao given its physical proximity to Shenzhen.

But he stressed that this does not mean Hetao is unattractive to international firms, adding that officials are working on strategies to attract more overseas enterprises.

Of the current tenants in Hetao, about 10 are listed companies, while 70 percent are start-ups.

Choi noted that around half of the leading companies are establishing a foothold in Hong Kong for the first time, saying this reflects the advantage of Hetao being a cross-border platform for innovation and technology cooperation.

He also said that a pairing system has been set up to connect established enterprises and startups.

“Why are there both large and small firms in Hetao? Actually, we have a dedicated matching system,” Choi said.

“Our plan is for the leading companies to help start-ups grow gradually. But at the same time, the start-ups can provide services or new ideas, or offer opinions on problem-solving.

"Start-ups are usually more flexible than large companies in this aspect.”





Edited by Robert Kemp