Hong Kong records historic high number of startups

Hong Kong boasts record highs in both the number of startups locally and the size of their employees in 2024, showed the latest official statistics.

The number of startups in the Hong Kong Special Administrative Region (HKSAR) hit 4,694 in 2024, up 10 percent year on year and approximately 40 percent more than that in 2020, the HKSAR government has announced.

In 2024, the combined workforce of these startups was nearing 18,000, up 7 percent year on year and an increase of around 65 percent over 2020.

According to Invest Hong Kong (InvestHK) data, the sectors with the largest increases included "health and medical" as well as "sustainable and green technology," underscoring the effectiveness of the government's investments in innovation and green energy.

Hong Kong records historic high number of startups

Chinese President Xi Jinping on Wednesday extended New Year wishes for the coming year when delivering his New Year message to ring in 2026.

"Greetings to all! Year after year, life opens a fresh chapter. As the new year begins, I extend my best wishes to you from Beijing!" Xi said in the message delivered through China Media Group and the Internet.

Noting that 2025 marks the completion of China's 14th Five-Year Plan (2021-2025) for economic and social development, Xi commended the country's efforts in the past five years, saying the Chinese people have pressed ahead with enterprise and fortitude, and overcome many difficulties and challenges.

The country met the targets in the Plan and made solid advances on the new journey of Chinese modernization, he said.

Chinese President Xi Jinping delivers 2026 New Year message