Sun Dong: Currently reviewing applications for the Preparatory Plan for the Creative Innovation Accelerator, attracting professional startups from both domestic and foreign entrepreneurial service organizations to establish accelerator bases in Hong Kong.

On May 29, Professor Sun Dong, Secretary for Innovation and Technology of Hong Kong, attended a meeting of the Legislative Council's Development New Productivity Committee and gave an opening speech on developing new productivity and promoting new industrialization. He stated that the SAR government also provides comprehensive support for start-ups in the innovation and technology sector through the Hong Kong Science Park Corporation and Cyberport. With the opening of the River Delta Hong Kong Park, the Hong Kong-Shenzhen Innovation and Technology Park Company (Hong Kong-Shenzhen Innovation and Technology Park Limited) launched an incubation program in the first quarter of 2026, and held the Hong Kong-Shenzhen Innovation and Technology Park Incubation Program Launch Ceremony and Technology Day Exhibition in March 2026. The first incubation program focuses on two industries: life health technology and artificial intelligence and data science, aiming to provide funding assistance and comprehensive support services to relevant start-ups. In addition, the authorities have optimized the innovation and technology venture fund, and are currently approving applications for the innovation accelerator pioneer program to attract experienced professional start-up service organizations from home and abroad to establish accelerator bases in Hong Kong, promoting the growth of start-ups. Sun Dong mentioned that the National "15th Five-Year Plan" emphasizes the deep integration of scientific and technological innovation and industrial innovation, the construction of a modern industrial system with advanced manufacturing as the backbone, and the consolidation and strengthening of the foundation of the real economy. It also explicitly requires significant progress in new industrialization during the "15th Five-Year Plan" period. Under the principle of "one country, two systems," Hong Kong has a highly internationalized and market-oriented business environment, as well as unique advantages and superior conditions backed by the motherland and connecting to the world. In response to the complex and changing international situation, in line with the national development overall and to promote high-quality economic development in Hong Kong, while seizing the opportunities brought by a new round of technological innovation and industrial transformation, the SAR government has been devoted to formulating industry development strategies that suit its own development needs. The Hong Kong government is promoting the upgrading and transformation of traditional industries, as well as the development of emerging and future industries through various measures, including the new industrialization funding scheme, the manufacturing and production line upgrading support pioneer program, the new industrial accelerator program, and the construction of the first overseas national manufacturing innovation center in Hong Kong. These measures are aimed at developing new productivity tailored to local conditions, accelerating the transformation of midstream achievements into reality, supporting the development of downstream industries, and promoting new industrialization. To accelerate the overall development of the innovation and technology industry and new industrialization in Hong Kong, the authorities have announced their intention to actively leverage Hong Kong's unique role as a "super-connector" and "super value-added person" to support the establishment or expansion of innovation and technology enterprises from the mainland and overseas in Hong Kong, develop new industries, improve the innovation and technology industry chain, and create a favorable innovation and technology ecosystem. Talent is also an important resource for the development of innovation and technology and new industrialization, as well as a key factor in promoting industrial upgrading and sustainable development. During the process of upgrading and transforming the manufacturing industry, the demand for innovative and technological talents by enterprises will continue to be strong. Therefore, we are actively enriching Hong Kong's pool of innovative and technological talents to enhance the strength of the city's technology industry and help enterprises drive new industrialization. By establishing a HK$10 billion innovation and technology industry guidance fund under the Innovation and Technology Fund, and establishing a parent fund, Sun Dong stated that efforts are being made to strengthen market guidance for investment in designated strategic emerging and future industries, and to systematically build the innovation and technology ecosystem in Hong Kong. The Finance Committee of the Legislative Council approved the allocation of funds for the guidance fund in July 2025, and the Innovation and Technology Bureau subsequently accepted applications to become the fund manager from November 2025 to January 2026. Progress is currently being made on various fronts, including gradually meeting with qualified fund managers, with the aim of launching the fund within the year. Furthermore, the government recently announced on May 28 the revised scope of economic activities under the "Manufacturing and New Industrial Industries" category, and updated relevant statistics.