Hong Kong Celebrates Recognition as World's Leading Innovation Cluster at Global Innovation Index Dinner.

Speech by FS at 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters Ceremonial Dinner(with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters Ceremonial Dinner today (September 1):

Deputy Director-General Wang (Deputy Director General of WIPO, Ms Wang Binying), 張副局長 (Deputy Commissioner of the China National Intellectual Property Administration Mr Zhang Zhicheng), 王副局長 (Deputy Director of Bureau III of the Hong Kong and Macao Affairs Office of the State Council, Mr Wang Jie), 李副特派員 (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region Mr Li Yongsheng),ladies and gentlemen,

Good evening.

Welcome to tonight's ceremonial dinner. I trust you enjoyed today's inspiring discussions and look forward now to an enjoyable evening.

My thanks, once again, to WIPO (World Intellectual Property Organization) for choosing Hong Kong to launch the inaugural Global Innovation Cluster Ranking. I'm grateful, too, for the support of the central ministries and authorities.

Let me begin by saying how proud we are that Shenzhen, Hong Kong and Guangzhou together have been named the world's most innovative cluster. This significant achievement speaks volumes about our region's collective commitment to innovation and technology.

In innovation today, no force is more transformative than artificial intelligence. AI is reinventing business models, redefining productivity and revolutionising how we work, communicate and live. Allow me to take this opportunity to say a few words about Hong Kong's vision and strategy in this area.

Fully recognising the value AI can create for our businesses and community, Hong Kong has prioritised AI as a core industry, and a key enabler in upgrading our traditional industries and sectors.

Our AI strategy advances along five key fronts: algorithms, computing power, data, capital and talent.

Algorithms and computing power include investing in our R&D (research and development) capabilities and infrastructure. For example, in this year's Budget, I announced the establishment of the Hong Kong Artificial Intelligence Research and Development Institute, which will focus on translating AI research into real-world applications. The Institute will be launched next year.

And Cyberport, our digital hub and AI accelerator, operates a supercomputing centre, providing essential support for wider AI applications. The Government is also providing funds to local universities, research institutes and businesses to make use of this computing resource.

Hong Kong is uniquely positioned as a convergence point for data from the Chinese Mainland and the world. And we are now facilitating cross-boundary data flows from the Mainland for R&D, coupled with robust safeguards - crucial for organisations in the biotech and medical fields.

When it comes to capital, Hong Kong is one of the world's leading financial centres. Besides the stock market, we provide a full spectrum of funding options that support enterprises at their various stages of growth. Hong Kong's private equity sector, for example, manages about US$230 billion in assets, ranking No. 2 in Asia, only after the Chinese Mainland.

Talent is the driving force of innovation. Which is why we are strengthening AI education at all levels. We are also forging partnerships with such leading technology firms as Tencent, Alibaba, SenseTime and Lenovo, bringing their expertise directly into classrooms and the community. In addition, we support initiatives such as the Hong Kong Qingyuan Club, a joint initiative of the Beijing Academy of Artificial Intelligence and the Hong Kong Investment Corporation to encourage young AI scientists to engage in global AI exchanges here in Hong Kong.

Our goal is clear: to ensure we have an adequate supply of AI talent, and our next generation is AI-ready, equipped with the skills and knowledge to flourish in an AI-driven world.

Ladies and gentlemen, Hong Kong's AI strategy reflects our broader innovation philosophy, in which talent, capital and technology reinforce one another in an open ecosystem.

In that same spirit, I want to assure you that Hong Kong is open and welcoming. We are keen to collaborate with governments, businesses and entrepreneurs from around the world, driving innovation for the benefit of all.

Ladies and gentlemen, I know you will enjoy this special evening and the innovative company all about you.

Thank you.

Speech by FS at 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters Ceremonial Dinner Source: HKSAR Government Press Releases

Speech by FS at 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters Ceremonial Dinner Source: HKSAR Government Press Releases

Source: AI-found images

Hong Kong Customs seizes suspected cocaine worth about $3.5 million at airport

Hong Kong Customs yesterday (December 26) detected a drug trafficking case involving baggage concealment at Hong Kong International Airport and seized about 4.7 kilograms of suspected cocaine with an estimated market value of about $3.5 million, as well as five sticks of duty-not-paid cigarette.

A 19-year-old male passenger arrived in Hong Kong from Doha, Qatar via Kuala Lumpur, Malaysia yesterday (December 26). During customs clearance, the batch of suspected cocaine, weighing about 4.7kg, and five sticks of duty-not-paid cigarette were found inside his baggage. The male was subsequently arrested.

The arrested person has been charged with one count of trafficking in a dangerous drug, one count of possessing duty-not-paid cigarettes and one count of failing to declare them to Customs officers. The case will be brought up at the West Kowloon Magistrates' Court on December 29.

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/en).

Hong Kong Customs seizes suspected cocaine worth about $3.5 million at airport Source: HKSAR Government Press Releases

Hong Kong Customs seizes suspected cocaine worth about $3.5 million at airport Source: HKSAR Government Press Releases