On April 17, Professor Sun Dong, Secretary for Innovation, Technology and Industry of Hong Kong, stated in his opening address at a special meeting of the Legislative Council's Finance Committee that the national "15th Five-Year Plan" explicitly supports Hong Kong's development as an international innovation and technology hub. This year's Budget continues to make forward-looking arrangements, aligning with national development strategies and closely adhering to the direction set out in the Hong Kong Innovation and Technology Development Blueprint. Professor Sun emphasized that with strong support from the nation, Hong Kong is steadily progressing toward its vision of becoming an international I&T center. As this year marks the beginning of the national "15th Five-Year Plan," the Hong Kong Special Administrative Region Government will remain committed to promoting I&T development and accelerating the growth of new quality productive forces.
Professor Sun proposed enhancing the I&T ecosystem, advancing new industrialization in Hong Kong, promoting the digital economy, and building a smart city. A key theme of this year's Budget is the development of "AI+". To drive AI+ initiatives, the government will establish a "Strategy Committee on AI+ and Industrial Development" at the top level, initially focusing on life and health technologies and embodied intelligence. The Budget also allocates HKD 100 million to accelerate the government's digital and intelligent transformation by introducing leading AI technologies and expert services. Additionally, it proposes universal AI training, with HKD 50 million earmarked to involve various public organizations, technology companies, and tertiary institutions in launching related initiatives.
Another key area of development is life and health technologies. The Hong Kong Life and Health Research Institute, currently under preparation, will adopt a "1+3" model, comprising a headquarters in the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop (Hong Kong Park) and three branch institutes to be established by local universities. Regarding new industrialization, Hong Kong will launch a New Industrial Elite Enterprise Cultivation Scheme this year, focusing on supporting high-growth enterprises that contribute to the city's new industrial development. The Budget also proposes reserving approximately HKD 220 million to establish the first overseas National Manufacturing Innovation Centre in Hong Kong.
In terms of nurturing and expanding emerging industries, the Hong Kong Centre for Robotics and Energy under InnoHK will participate in the national Chang'e-8 mission. The third InnoHK research platform, SEAM@InnoHK, will establish eight laboratories this year. Meanwhile, various Hong Kong science parks will invest resources to support the development of embodied intelligence enterprises in the city. The government has also allocated resources in recent years to support quantum technology-related research. Furthermore, Hong Kong will continue to support industrial development comprehensively across the upstream, midstream, and downstream sectors.
To encourage more upstream research activities, the government will review and optimize the current tax arrangements for R&D expenditures. In the midstream sector, it will deepen industry-academia-research collaboration; the HKD 10 billion "Research, Academic and Industry Sectors 1+ Scheme" has already approved 49 projects. Downstream, the HKD 10 billion New Industrialisation Acceleration Scheme has announced support for four applications, with a total investment of approximately HKD 2.5 billion. Additionally, a HKD 10 billion I&T Industry Investment Fund has been launched, and fund managers are currently being selected with the aim of commencing operations within the year.
Professor Sun stressed that Hong Kong must actively integrate into the national development landscape and serve as a bridge connecting the mainland with the world. The Hong Kong Park of the Lok Ma Chau Loop opened in December last year. As of the end of March, the first two completed wet laboratory buildings in the initial phase have attracted nearly 80 enterprises. The remaining sites of the first phase are planned to be released in an orderly manner starting from the second quarter of this year. The Budget announced a request to the Legislative Council for an additional injection of HKD 10 billion into the park company to advance its development in multiple aspects. This includes accelerating the release and development of the remaining first-phase sites through public-private partnership models, providing essential infrastructure to facilitate the cross-park flow of innovation elements, and further strengthening comprehensive support for park enterprises.
The San Tin Technopole, as a natural extension of the Loop, will synergize with the Hong Kong Park to foster collaborative development across upstream, midstream, and downstream sectors, building a complete industrial ecosystem. The Budget announced that the government will establish a dedicated company for the San Tin Technopole within the year and seek Legislative Council approval for an injection of HKD 10 billion as initial funding to mobilize market resources for accelerated development.
Discussing the expansion of the I&T talent pool, Professor Sun noted that advancing I&T requires high-quality talent. InnoHK has already gathered over 3,000 researchers engaged in world-class scientific collaboration. Hong Kong also launched a HKD 3 billion Frontier Technology Research Support Scheme in September 2025, which will help local institutions attract top international talent to conduct cutting-edge technology research in alignment with national strategic deployments. Follow-up actions are currently underway with relevant universities regarding the preliminary review results of the first round of applications.