HKSTP Welcomes the Budget’s Strengthened I&T Strategy

(Hong Kong, 25 February 2026) — Hong Kong Science and Technology Parks Corporation (HKSTP) welcomes the 2026–27 Budget for advancing innovation and technology (I&T) development by harnessing market forces, accelerating the industrialisation of artificial intelligence (AI), and deepening the integration of technological and industrial innovation. HKSTP will fully support the relevant measures and press ahead at full speed with the development of INNOPOLE to help realise the vision of the Northern Metropolis (NM) as a new international I&T city.

Dr Sunny Chai, Chairman of HKSTP, said: “I am pleased to see the Budget putting forward a range of I&T measures, which lay a solid foundation across the value chain and will continue to drive Hong Kong’s I&T development through ‘AI+’ and life and health technologies. The Budget also sets out initiatives that align with the National 15th Five‑Year Plan. HKSTP will actively integrate into the overall national development agenda, working closely with government, industry, academia, the research community and investors. Leveraging Hong Kong’s unique advantages under ‘One Country, Two Systems’ to ‘bringing in and going global’, we will accelerate the development of new quality productive forces, convene enterprises, capital and talent, champion Hong Kong in building itself into an international I&T hub, contribute to the nation’s drive to become a global science and technology powerhouse, and promote economic diversification and high‑quality development.”

AI+ Empowers Industrial Transformation and Upgrading

HKSTP supports the HKSAR Government’s accelerated drive to industrialise AI, deepening its integration across various industries, and encourage wider adoption. Key initiatives include establishing a ‘Committee on AI+ and Industry Development Strategy’ to set strategic directions and create enabling conditions for AI-driven industrial transformation and development, alongside dedicated funding and measures to deliver territory-wide AI training.

HKSTP is home to more than 500 AI tech ventures and over 5,000 AI professionals, including several locally nurtured unicorns. Looking ahead, HKSTP will continue to drive the deep integration of AI with frontier sectors such as life and health technology, new materials, new energy, and microelectronics. By combining digital technologies with Hong Kong’s established strengths, HKSTP will respond to evolving societal needs and foster the diversification of Hong Kong’s economy.

Realising the Vision of NM’s new I&T City and Driving INNOPOLE at Full Speed

As Hong Kong’s flagship for I&T, HKSTP fully supports the Government’s establishment of a dedicated company for San Tin Technopole to drive its development. San Tin Technopole will become a major I&T hub and a key base for developing new quality productive forces.

As previously announced by the Government, HKSTP is conducting planning studies for approximately 20 hectares of land within San Tin Technopole, named the INNOPOLE. HKSTP will work closely with the Government and, coordinate with the dedicated company on the overall development of San Tin Technopole, expand the I&T ecosystem, and attract enterprises and international talent. Leveraging Hong Kong’s international strengths, HKSTP will further reinforce the city’s role as a bridge between the Chinese Mainland and the world.

HKSTP also welcomes the Government’s proposal to seek approval from the Legislative Council to inject a funding of HK$10 billion to the Hetao Hong Kong Park (Hong Kong-Shenzhen Innovation and Technology Park, an HKSTP subsidiary). The funding will accelerate the park’s development, provide key infrastructure, further strengthening support for startups, and lay the groundwork for establishing a venture fund to help the startup ecosystem thrive.

Fostering High Value-added Industries and Accelerating New Industrialisation

HKSTP welcomes the Government’s sustained drive to propel Hong Kong’s new industrialisation. Measures include the ‘New Industrialisation Elite Enterprises Nurturing Scheme’ for bolstering high‑growth companies that contribute to Hong Kong’s new industrialisation and help cultivate emerging and future industries; earmarking HK$220 million to establish Hong Kong’s first national manufacturing innovation centre outside the Mainland; and ongoing work to formulate a medium‑ to long‑term strategy for new industrialisation in Hong Kong.

HKSTP will continue to leverage its three InnoParks in Tai Po, Yuen Long and Tseung Kwan O to catalyse the translation and commercialisation of advanced manufacturing outcomes, and to drive the growth of high value-added new industrialisation.

Reinforcing International Health and Medical Innovation Hub Position by Elevating Emerging Industries and Life and Health Technology

HKSTP welcomes the Government’s measures to support the development of emerging industries, including the HK$10 billion I&T Industry-Oriented Fund and initiatives to scale up research and applications in areas such as embodied AI, quantum technology and new materials. The Government also supports the continued development of life and health technology, including measures to accelerate the translation and commercialisation of biopharmaceutical R&D and plans to establish an International Clinical Trial Academy.

HKSTP is currently home to more than 300 life and health technology related tech ventures, including a number of worldclass biopharmaceutical enterprises. HKSTP will remain committed to building a comprehensive life and health technology ecosystem and enhancing Hong Kong’s international standing in this field.

Conclusion

Hong Kong’s strengths in innovative scientific research and commercialisation of research outcomes lie in our internationalised qualities, strong research capabilities, support of financial sector and a rich pool of high-calibre talents. HKSTP will fully support and align with the initiatives set out in the Budget by strengthening the relevant support infrastructure and enhancing Hong Kong’s influence as a global source of original innovation.

We will continue to work closely with partners to enable greater technology transfer and commercialisation, accelerate the nurturing of leading technology enterprises and talent, and support local I&T companies in seizing Greater Bay Area (GBA) opportunities while expanding into overseas markets. Together, these efforts will further promote Hong Kong’s I&T development and contribute to the nation’s innovation and technology development.