The Development Bureau: Hung Shui Kiu Industry Park Company Established for Northern Metropolis Development by Mid-2026

Establishment of Industry Park Company to accelerate development of industries in Northern Metropolis

The Development Bureau (DEVB) announced today (December 29) the establishment of the Hung Shui Kiu Industry Park Company Limited (the Park Company), which will be responsible for the development and operation of the around 23-hectare industry park located in Hung Shui Kiu in the Northern Metropolis (the Industry Park). The DEVB is moving full steam ahead to complete the company registration, land grant, capital injection and appointment matters as soon as possible, with a view to enabling the Park Company to commence operation by mid-2026.

The Secretary for Development, Ms Bernadette Linn, said, "The development of the Northern Metropolis is industry driven. Apart from using traditional land sales, in-situ land exchanges and large-scale land disposal approaches to bring in industries, establishing an industry park company wholly owned by the Government is another tool which allows the Government to participate in the development and operation of industries through the Park Company, and take the lead in leveraging market forces and adopting public-private partnership approaches to accelerate the development of industries in the Northern Metropolis."

The DEVB has completed a policy study on setting up the Park Company in accordance with this year's Policy Address, and the Working Group on Devising Development and Operation Models led by the Financial Secretary has endorsed the recommendation. The DEVB has obtained the approval of the Financial Secretary to incorporate a non-statutory, limited company wholly owned by the Financial Secretary Incorporated, named as the Hung Shui Kiu Industry Park Company Limited.

The Park Company will achieve four major objectives:

(i) capitalise on the locational advantage of Hung Shui Kiu to drive the development of industries with a competitive edge and supported by the Government;

(ii)masterplan the overall development of the Industry Park, build the park infrastructure and provide value-added services to support the growth of enterprises and develop a vibrant industry ecosystem;

(iii) adopt diversified public-private partnership models and make use of the Government's preferential policy packages as necessary to attract investments and enterprises to establish footholds in the Industry Park; and

(iv) provide support to brownfield operators affected by government development to move up the value chain.

In terms of corporate structure, the Board of Directors (BoD) and the Chief Executive Officer (CEO) of the Park Company shall be appointed on the approval of the Chief Executive. The BoD comprises five official directors and around 10 non-official directors, including a chairperson to be appointed from the non-official directors. The five official directors include the directors of policy bureaux relevant to the development of the Park Company, including the Secretary for Development; the Secretary for Financial Services and the Treasury; the Secretary for Commerce and Economic Development; the Secretary for Innovation, Technology and Industry; and the Secretary for Transport and Logistics. The Government will participate directly in the major decisions of the Park Company through the official directors. The non-official directors will come from diverse backgrounds and sectors, allowing the Park Company to draw on the expertise from outside the Government.

The DEVB will seek the approval of the Chief Executive in Council later for granting the around 23 hectares of industry sites in Hung Shui Kiu at nil premium to the Park Company. As the sites within the Industry Park are currently zoned as "Port Back-up, Storage and Workshop", the DEVB will shortly seek the approval of the Town Planning Board for rezoning these sites to designate a park-specific zoning tailored for the Industry Park, as well as increase the land-use flexibility by widening the permitted uses to cover various suitable industries (such as advanced construction, high-value added or smart production) and supporting facilities (including convention or exhibition facilities, research, testing and certification, talent accommodation, food and beverage facilities, etc). Upon approval by the Legislative Council, the Government will inject initial capital into the Park Company in order to support its initial operational and development needs. The specific amount of capital injection will be announced in the 2026-27 Budget. The Park Company has to operate and manage the Industry Park in a financially sustainable manner and expand its business revenue, with a view to achieving financial self-sustainability in the long term.

The Park Company will develop the around 23 hectares of industry land by phases through different development models, and may further be granted more industry land in Hung Shui Kiu (such as some of the logistics sites in the area) for development in the future. Apart from self-developing part of the land for building and leasing industry facilities, the Park Company may dispose of some of the industry land of the Industry Park by way of tender for enterprises to undertake the construction of topside industry facilities on their own; and other approaches such as forming joint ventures with enterprises through provision of land as a form of capital participation to co-develop and co-invest in individual projects. Among the around 23 hectares of industry land of the Industry Park, around eight hectares are "spade-ready sites". For the remaining around 15 hectares, site formation is expected to be completed by the Government for the majority of the sites by end-2027.

The DEVB will strive to commence an open recruitment exercise for the CEO in January 2026, as well as complete a series of preparatory work in the first half of next year, including rezoning and granting of the land, seeking funding approval for the capital injection to the Park Company, appointing the BoD and the CEO, and recruiting other key staff for the Park Company, etc. The target is for the Park Company to commence operation by mid-2026.

Details of the proposal of the Park Company have been uploaded to the DEVB's website (www.devb.gov.hk/filemanager/en/content_2464/HSK%20Industry%20Park%20Company%20-%20PPT%20for%20announcement.pdf).

The Development Bureau

Speech by SCST at gala dinner in celebration of Hong Kong Exhibition at Venice Biennale

Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the gala dinner in celebration of Hong Kong Exhibition at Venice Biennale on May 8 (Venice time):

Mr Li Xiaoyong (Charge d'Affaires ad interim at the Chinese Embassy in Italy), Dr Ambrosetti (Ambassador of Italy to the People's Republic of China, Dr Massimo Ambrosetti), Ms Bisson (Director of International Relations Department, Veneto Region Government, Ms Annalisa Bisson), Kenneth (Chairman of the Hong Kong Arts Development Council, Mr Kenneth Fok), Nancy (Chairman of the Friends of the Hong Kong Museum of Art, Mrs Nancy Lee), distinguished guests, cultural leaders, ladies and gentlemen,

Good evening. Buonasera. It is a true pleasure to join you here in the heart of Venice, in this magnificent historic building. A very warm welcome in particular to our friends who have travelled from across the globe to be with us tonight.

This evening is a perfect occasion to celebrate cultural friendships - and it reminds me of the many strong and ever strengthening ties between Italy and Hong Kong. We share not only a passion for gastronomy, music, opera, creativity, craftsmanship and elegance; Italy has also been a longstanding partner in the Hong Kong Fashion Fest and the Hong Kong Business of Design Week.

Our collaborations extend deeply into the museum heritage and the arts. Some of our Italian museum collaborators and directors are also here with us today. These past collaborations stand as a testament to more than 55 years of diplomatic relations between the People's Republic of China and Italy. And tonight, we are delighted to celebrate another landmark moment for Hong Kong as we showcase our cultural legacy and creative spirit at the Venice Biennale.

This year's exhibition, "Fermata: Hong Kong in Venice", marks an exciting milestone. It represents a new collaboration between the Hong Kong Arts Development Council and the Leisure and Cultural Services Department. And for the first time, the Hong Kong Museum of Art has been entrusted with curating our presentation. Drawing on over six decades of championing local art, and as the home of prestigious artwork collections and world-class donations of Chinese painting and antiquities - including the largest donation in the world from the 20th-century Chinese art master Wu Guanzhong - our Museum of Art brings a distinctly Hong Kong curatorial perspective to this global stage. The Museum has also been progressively fostering institutional partnerships worldwide. To name just a few recent collaborations: The Capodimonte Museum, the Uffizi Galleries, the Tate, Musée d'Orsay, Guimet, and the Palace Museum. Tonight, we are delighted and truly grateful that representatives from several of these esteemed institutions are here to share this remarkable moment with us. Thank you.

To actively promote art and foster global dialogue, Hong Kong has been forging stronger ties around the world. A recent major achievement is our five-year collaboration agreement with Art Basel, solidifying Hong Kong as the exclusive host city in the region and establishing our city as a global hub for premium arts trading. The Art Month in March in Hong Kong has become a global mega event that no art lover, collector or professional should miss. This year, the five-day event attracted over 91,000 visitors, bringing together hundreds of international galleries and art professionals in Hong Kong. All these milestones align with our country's 15th Five-Year Plan for National Economic and Social Development, which aims to facilitate greater arts and cultural exchanges between the Chinese Mainland and overseas countries. To all the international leaders here tonight: we eagerly look forward to exploring more synergies with you.

The success of Hong Kong's vibrant art scene would not be possible without the long-term partnership with major cultural institutions in Hong Kong. And forgive me, I have a long list of people and partners to thank. Firstly, I want to thank the Hong Kong Arts Development Council for your contribution in co-presenting the Hong Kong exhibition at the Venice Biennale since 2001. I must also extend my heartfelt gratitude to the Friends of Hong Kong Museum of Art for their generous support of the Museum throughout the years, and for their great efforts in bringing together ardent art patrons to organise and join this magnificent gala dinner. Special thanks of course go to our Chairlady, Nancy. Your presence here is a sign of true friendship built on our shared commitment to foster a deeper appreciation of visual arts in Hong Kong. Moreover, I understand that over 60 museum directors and professionals are here with us tonight. To all of you, thank you for being part of this memorable moment - the Hong Kong Museum of Art's first presence in the Venice Biennale. Last but not least, I must thank Li Xiaoyong , Dr Ambrosetti, Ambassador of Italy to the People's Republic of China, who come all the way from Beijing to grace our party.

I hope this evening inspires new collaborations and lasting friendships, that together we witness the enduring power of cultural exchange. I wish you all a most enjoyable evening at this magnificent venue.

Thank you and buon appetito!

Source: AI-found images