In this screenshot made from a government-published video, Hong Kong Chief Executive John Lee Ka-chiu addresses the InnoHK Summit 2023 via video on Dec 6, 2023.

 HONG KONG – Government officials struck a confident tone on their ability to develop the Hong Kong Special Administrative Region into an international hub for innovation and technology, as talent and enterprises gradually return to the city. 

Chief Executive John Lee Ka-chiu delivered a speech at the InnoHK Summit 2023 that this year, “some 70,000 professionals have obtained entry visas and made their move to Hong Kong” under various talent attraction programs.” The figure is twice the government’s annual target.

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“Hong Kong values multilateralism. Our InnoHK initiative strives to build a global network of mutual learning and advancement,” Lee said.

Over 180,000 individuals have applied for talent-entry programs, with over 110,000 applications approved so far, said Lee

The event, themed “From Collaborative Research to Real World Impact”, drew 60 speakers and experts from the technology sector and academia.

Lee said over 180,000 individuals have applied for talent-entry programs, with over 110,000 applications approved so far.

The Hong Kong government unveiled a slew of measures to attract talent back to the city following a brain drain traumatizing key industries of the international trade hub. These include the Top Talent Pass program launched in December last year, aiming to entice overseas people who earn more than HK$2.5 million ($320,140) annually, and graduated from the world’s top 100 universities over the past five years.

The Hong Kong leader highlighted the significance of talent and enterprises to fostering a local innovation and technology ecosystem and promoting global collaboration.

He noted that under the Global STEM Professorship Scheme launched in January last year, “more than 50 top scholars from around the globe have taken up new academic positions in Hong Kong, with dozens more arriving in the future”.

The SAR government has secured 30 enterprises’ expansion or establishment in Hong Kong in strategic industries, such as life sciences, artificial intelligence, fintech, advanced manufacturing and new energy technology this year, Lee added. 

“These companies will invest nearly $4 billion here, and create 10,000 jobs, the majority of which are scientific research and management positions,” he said. 

“These developments will allow Hong Kong to continue to be a world-class hub for collaboration among great minds, in the fields of scientific research, nurturing startups, and growing your businesses,” he added.

Secretary for Innovation, Technology and Industry Sun Dong spoke about the progress of InnoHK, a government-backed initiative in promoting global research collaboration with a HK$10 billion fund.

The initiative aims to bring together researchers from top-tier institutions around the world, and establish research clusters focusing on areas such as health technologies, AI and data analytics. Two research clusters have been set up at the Hong Kong Science Park, namely Health@InnoHK, focusing on healthcare technologies, and AIR@InnoHK, focusing on artificial intelligence and robotics technologies.

Sun said that InnoHK so far has brought together over 30 world-renowned universities and institutions from 11 economies, resulting in the establishment of 29 research centers. 

He announced plans for the creation of a third InnoHK research cluster next year, with a focus on advanced manufacturing, materials, energy, and sustainable development.

“Hong Kong is now home to more than 4,000 startups, and has given birth to nearly 20 unicorns so far,” he said.

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Albert Wong Hak-keung, CEO of Hong Kong Science and Technology Parks Corp; Duncan Chiu, a lawmaker from the Technology and Innovation functional constituency; and Tsui Lap-Chee, founding president of the Hong Kong Academy of Sciences and chairman of the InnoHK Steering Committee, also attended the event.

Meanwhile, Contemporary Amperex Technology Co (CATL) — the world’s biggest maker of batteries for electric vehicles that was formed on the Chinese mainland — announced the establishment of its international headquarters and innovation research and development center in the Hong Kong Science Park on Wednesday. 

A memorandum of understanding will be signed between the Hong Kong Science Park and CATL on Thursday.

Contact the writer at tianyuanzhang@chinadailyhk.com