Budget Proposal: Chan Mo-po has requested the Hong Kong Exchanges and Clearing (HKEX) to review listing regulations to facilitate aerospace companies to list in Hong Kong

The Financial Secretary, Paul Chan, published a new fiscal budget, emphasizing the development of emerging industries. He pointed out that the national "14th Five-Year Plan" suggests accelerating the construction of a strong aerospace nation, and the National Space Administration has proposed promoting the orderly expansion of commercial aerospace enterprises overseas. He believes that Hong Kong can assist the mainland aerospace industry in connecting with the global market and provide professional services in research and development, financing, risk management, and legal matters. To this end, the Hong Kong government has requested the Hong Kong Stock Exchange (00388.HK) to review relevant listing regulations to facilitate and attract more aerospace companies to list in Hong Kong. He also mentioned that the Investment Promotion Agency will take the lead in identifying suitable aerospace companies for development in Hong Kong.

Regarding the low-altitude economy, the first batch of thirty-two "regulatory sandbox" projects has been tested on designated routes. Some drone application scenarios, such as building management and inspections, have entered actual operation. Starting from the first half of this year, Hong Kong will gradually implement applications such as a drone traffic management system, multi-user sharing platforms, cross-border routes, and manned aircraft. The authorities are also actively discussing the launch of cross-border logistics test flight projects with the mainland.

Paul Chan stated that the government is accelerating the development of automated and unmanned driving on a large scale, ensuring road safety while achieving commercial operations, and encouraging the industry to explore overseas markets using the Hong Kong platform. It is expected that the "Aerospace Corridor" automated driving transportation system will be operational within the year, marking the first commercial operation project in Hong Kong