Hetao zone to lead HK innovation, cross-border data flow by year-end
Kevin Choi, Permanent Secretary for Innovation, Technology and Industry, said the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone will lead HK's innovation development and expects cross-border data flow results by end-2026. Other speakers highlighted opportunities in AI,
Kevin Choi Kit-ming, Permanent Secretary for Innovation, Technology and Industry, said on Friday at a discussion forum of the Sing Tao Global Economic Summit 2026 that the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone serves as a leader for Hong Kong's innovation and technology development. He added that the zone will leverage its designated role as a pilot zone for institutional innovation granted by the state to promote the orderly cross-border flow of innovative elements.
Choi expects that the fruits of cross-border data flow will be reaped by the end of the year, supporting the development of innovation and technology industries such as artificial intelligence and life sciences. He noted that cross-border data barriers have always been an obstacle in Shenzhen-Hong Kong innovation and technology cooperation.
Ma Wei-ying, Chief of AI and Director of the Hong Kong Institute of AI for Science (HKAI-Sci) at City University of Hong Kong, suggested that Hong Kong focus on the track of AI plus biopharmaceuticals, as the global society is currently in a new scientific era. He pointed to Hong Kong's inherent advantages, including a strong cluster of universities, as well as a comprehensive biosafety and data regulatory system, which enables two-way integration of mainland China's biotechnology innovation resources with the global market, thus facilitating global access to pharmaceutical research results.
Alex Au Wai-chi, Co-Founder of Hong Kong Digital Asset Society, said on the same forum that Hong Kong now possesses the golden opportunity for large-scale implementation of blockchain applications, citing increasingly comprehensive regulations and infrastructure. He further suggested optimising the Hong Kong stock trading mechanism through tokenised deposits to achieve T+0 instant trading, breaking through the existing T+2 limitation. He indicated that Hong Kong can leverage its local treasury advantages to develop yuan and gold stablecoins, creating an international gold trading centre.
Nick Chen, Product Director of B.AI, an AI agent, stated that AI agent payment is technically mature, but pointed out that it currently faces limitations in collection and payment scenarios, with industries often using token issuance to complete transactions.