Hong Kong says first six batches of key firms invested HK$28.3bn by end of September
Hong Kong Financial Secretary Paul Chan said 142 key enterprises have set up or expanded in the city, with the first six batches investing HK$28.3 billion by end of September, exceeding targets by 30 per cent. The seventh batch of 18 firms includes gold refiners from Switzerland and Shenzhen, boosti
Hong Kong's Financial Secretary Paul Chan said the city's office for attracting key enterprises has welcomed a seventh batch of 18 firms, half of them from outside mainland China, with many having a market capitalisation or valuation exceeding HK$100 billion. Together with the previous six batches, a total of 142 key enterprises have set up or expanded in Hong Kong, expected to bring about HK$84 billion in investment and create some 27,000 jobs in the coming years.
Chan said investment was gradually being realised. By the end of last month, the first six batches of enterprises had actually invested HK$28.3 billion and employed more than 10,300 people, exceeding original phased targets by 30 per cent and 34 per cent respectively. He said this showed that business confidence in Hong Kong was increasingly reflected in the real economy.
Writing in his blog, Chan noted that the first six batches of enterprises used 2.83 million square feet of commercial and industrial floor space, up more than 50 per cent from March last year, reflecting real demand for space arising from investment. The government recently proposed injecting HK$10 billion in initial funds into the New Territories Science City company to accelerate land preparation and first-phase industrial facilities construction, creating conditions for more research and industrial projects.
Among the first six batches, about 70 per cent set up global or regional headquarters in Hong Kong, and nearly 90 per cent set up research and development centres, bringing funds and jobs as well as decision-making, R&D and business coordination functions. Chan said this was key to converting enterprise investment into long-term competitiveness for Hong Kong.
The new batch of enterprises' development plans showed the tangible benefits of setting up in Hong Kong, Chan said, highlighting their role in driving biomedical development. He said enterprises brought R&D and application needs, while universities and hospitals provided research capabilities, clinical settings and expertise, with participants accumulating experience. These collaborations were proof that enterprise investment was being converted into local innovation capabilities.
The new batch also included gold refining enterprises from Switzerland and Shenzhen, planning to develop gold refining, storage and trading businesses in Hong Kong, helping strengthen the city's gold supply chain.
Separately, Chan said he attended the opening ceremony of the Innovation and Technology Carnival at Science Park yesterday, which for the first time featured a space zone where he learned about local university teams' research projects supporting national space missions. He said local research was achieving results on international stages and in practical applications, with many local tech startups' products and technologies reaching overseas markets, showing that Hong Kong's research capabilities and innovative ideas were gradually being converted into tangible benefits and business opportunities.
