Hong Kong Chief Executive Chief Executive John Lee announced that in order to further support specialized technology and biotechnology enterprises in raising capital and expanding their businesses, the Hong Kong Stock Exchange (HKEX) will launch a new initiative called the “TechConnect” line. A dedicated team will be established to engage early with potential listing applicants, offering assistance throughout the IPO process. This aims to help companies and their sponsors better understand how listing rules apply to specific business models and evaluation criteria, enabling upfront communication on key issues. The Securities and Futures Commission (SFC) will work closely with HKEX throughout the process.

Mr. Lee emphasized that the SAR government hopes to streamline the listing application process and attract more tech firms to go public in Hong Kong. Further details of the initiative will be jointly announced by HKEX and the SFC today.

Separately, speaking ahead of the Executive Council meeting, Mr. Lee shared the outcomes of his recent delegation visit to Zhejiang. He highlighted three key achievements: first, the enhancement of all-round cooperation between Zhejiang and Hong Kong, including the establishment of a cooperation conference mechanism. The inaugural meeting has already taken place, resulting in the identification of 13 priority areas and 50 collaborative projects. Four cooperation agreements were signed covering innovation and technology, housing and livability, youth development, and other areas. Authorities are actively promoting the use of cross-regional platforms and have set up task forces to explore deeper cooperation opportunities in these areas.

The second achievement, he said, is the opening of new opportunities in tech collaboration between Hong Kong and Zhejiang. During the visit, Mr. Lee toured a number of I&T projects and met with representatives from the “Six Little Dragons” of Hangzhou — leading emerging tech companies in the region.

Lastly, he noted that the visit had helped attract further investment from Zhejiang enterprises into Hong Kong. Several companies plan to set up headquarters and R&D centers in the city, with over half of these projects expected to be launched within this year.

Mr. Lee remarked that a key takeaway from his conversation with the Six Little Dragons was the importance of application scenarios in innovation and technology. He stressed that governments should actively support such development, as new products require continuous testing and real-world application to reach optimal performance. He cited the example of the low-altitude economy, where the Hong Kong government is making significant efforts to provide real-life testing grounds for drones, and will continue to explore opportunities with the industry.