John Lee: Innovation and Technology as the Focus of Governance, Accelerating the Development of the Industrial Chain

Chief Executive John Lee stated that developing Hong Kong into an international innovation and technology hub has become a key focus of the government's policy, supported by the national "14th Five-Year Plan" recommendations. He pointed out that local R&D expenditure will reach HKD 36 billion in 2024, more than doubling compared to 2014; during the same period, the number of innovation and technology practitioners has also increased by 70%, with 20 unicorn companies and around 4,700 startups.

John Lee emphasized that the Hong Kong Park of the Heung Yuen Wai Shenzhen-Hong Kong Innovation and Technology Cooperation Zone and the San Tin Technological City in the Northern Metropolis are core pillars of innovation and technology development. Among them, the Hong Kong Park was officially opened last month, marking a new phase in Hong Kong-Shenzhen technological innovation cooperation and achieving cross-border collaborative development. He stated that the San Tin Technological City will closely connect with the Guangdong-Hong Kong-Macao Greater Bay Area industrial chain, facilitating the transformation and industrialization of research results, promoting economic growth, and creating high-quality jobs. The government will accelerate the development of the innovation and technology industry chain to strengthen Hong Kong's competitiveness as an international innovation and technology hub