Financial Secretary Paul Chan on Sunday said Hong Kong’s connections with Belt and Road regions and the Global South have deepened, with the continuous growth in Hong Kong’s innovation and technology ability.

Writing in his weekly blog, Chan said Hong Kong’s collaboration with the Middle East has been expanding from finance to the industry-oriented innovation and technology sector, bringing the economic and investment relationship to a broader scope.

Hong Kong’s cooperation with Belt and Road regions is also evolving from individual projects into comprehensive connections, he said.

Chan said the SAR’s strong scientific research and innovation capabilities allow the cross-regional cooperation to extend into the I&T area.

Hong Kong’s innovation ability has been on the rise, with the number of startups in the city surging from over 1,500 in 2015 to more than 5,200 last year, he said.

“For partners in the Middle East and Central Asia, this means what they can find in Hong Kong is feasible innovation, commercialised application and high-end industrial capability,” he said.

“When these abilities are combined with the advanced manufacturing capacity and the vast market in our sister cities in the Greater Bay Area, the results are not only commercial returns, but also high-quality development that benefits all parties.”

The FS also said Hong Kong’s first five-year plan and the latest Policy Address would become the market’s focus in the coming week.

The documents will allow the market to further understand Hong Kong’s future development and policies, and better plan for further investments and business development in the city and across the region.


Edited by Aaron Tam