Financial Secretary of Hong Kong: Hong Kong's low-altitude economy is developing rapidly, and it is expected to launch the second phase of sandbox pilot projects in the first half of next year.

Hong Kong's Financial Secretary Deputy Secretary Huang Weilun stated that the low-altitude economy has developed rapidly in Hong Kong this year. Since the proposal to establish a "low-altitude economy development working group" was put forward in the Policy Address in October last year, 7 regulatory sandbox pilot projects have been launched, with new projects beginning this month. It is expected that the second phase of pilot project applications will be promoted in the first half of next year, with a focus on more infrastructure-related projects. Huang emphasized that the government does not plan to launch a third phase, and will focus on commercial applications, ensuring that approved projects are mass-produced to provide services on a large scale. Huang Weilun mentioned at the Low-Altitude Economy Cooperation Summit held at the International Automobile Exhibition that legislative amendments to promote the development of the low-altitude economy have already begun. One of the key focuses is to relax the payload restrictions for drones. In the first batch of regulatory sandbox pilot project applications, some involve heavier electric Vertical Take-Off and Landing aircraft (eVTOL). However, as there were no relevant regulations at the time, the projects could not be approved. It is hoped that after the legislation is passed, these projects can be approved as soon as possible.