In 2024, Hong Kong's total expenditure on local research and development reached 357.72 billion Hong Kong dollars, an 8% increase compared to the previous year.

17:05 23/12/2025

On November 23, according to the Hong Kong government's Census and Statistics Department, the total expenditure on local research and development (R&D) in Hong Kong reached HK$35.772 billion in 2024, an increase of 8% from the corresponding figure in 2023 (HK$33.006 billion). The ratio of total R&D expenditure to Gross Domestic Product (GDP) in Hong Kong in 2024 was 1.13%.

On November 23, according to statistics released by the Hong Kong government's Census and Statistics Department, Hong Kong's total expenditure on local research and development (R&D) reached HK$35.772 billion in 2024, up 8% from the corresponding figure in 2023 (HK$33.006 billion). The ratio of Hong Kong's total expenditure on local R&D to GDP in 2024 was 1.13%. Analysis by type of institutions conducting research and development (R&D) activities in 2024 shows that expenditure on R&D activities by industrial organizations, higher education institutions, and government institutions amounted to HK$13.906 billion, HK$20.054 billion, and HK$1.812 billion, respectively. R&D activities refer to creative and systematic work aimed at advancing knowledge to invent new and improved products, processes, or applications, as well as improving existing products, processes, or applications.

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The Federal Reserve's Daly warns of vulnerability in the labor market, says it may be necessary to cut interest rates one to two more times this year.

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