Hong Kong unveils five-year plan to become international I&T hub by 2030
Hong Kong's first five-year plan sets goals to raise R&D spending to 3 per cent of GDP and manufacturing value-added to 5.5 per cent by 2030. The government will build three science parks and five research institutes to boost innovation.
The Hong Kong Special Administrative Region government has published its first five-year plan, setting a timeline to establish the city as an international innovation and technology (I&T) centre by 2030, Secretary for Innovation, Technology and Industry Sun Dong said on Tuesday.
Speaking at the '2026 Technology + New Quality Productive Forces Summit' organised by the Hong Kong China Association, Sun said the plan aims to build an I&T hub that is rooted in the Greater Bay Area, radiates across the country and connects with the world. The centre will be driven by enterprises, led by unicorns and empowered by modern finance, leveraging the research strengths of world-class universities.
The plan sets two key targets: raising total expenditure on local innovation activities to 3 per cent of GDP by 2030, up from 1.63 per cent in 2024, and increasing the value-added of manufacturing and new industrial sectors to 5.5 per cent of GDP, compared with 3.8 per cent in 2024. Sun noted that achieving these goals would require annual growth of at least 10 per cent, describing them as 'highly challenging'.
To optimise the I&T development system, the plan proposes a new structure centred on three science parks and five research institutes. The city currently has 15 state key laboratories and 38 InnoHK research centres. The government will enhance the 'dual-base' advantages of these platforms and explore strategic national technology fields such as aerospace, quantum and frontier technologies.
The three science parks include the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, which will leverage cross-border advantages to become a world-class hub; Cyberport in the south, focusing on digital technology; and the Science Park in the middle, focusing on hard technology and enterprise incubation. The five research institutes include the Hong Kong Productivity Council, the Hong Kong Applied Science and Technology Research Institute, and three newly established institutes for microelectronics, artificial intelligence, and life and health sciences.
The plan also proposes building three university towns in the Northern Metropolis at San Tin, Hung Shui Kiu and Ta Kwu Ling, with a 'five elements in one city' layout covering education, technology, industry, talent and urban development. The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone will anchor the university town initiative.
On new industrialisation, the government has supported more than 130 smart production lines through its funding scheme and backed nine projects under the New Industrialisation Acceleration Scheme. The first batch of eight enterprises selected for the 'New Industrialisation Elite Enterprise Cultivation Scheme' was announced recently. A medium- and long-term development plan for new industrialisation will be published within the year.
