Financial Secretary Celebrates 10th Anniversary of Banga Gallery at Prototyping Exhibition Opening

Speech by FS at Prototyping: Exhibition Opening cum Kick-off of 10th Anniversary of Indra and Harry Banga Gallery(with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at Prototyping: Exhibition Opening cum Kick-off of the 10th Anniversary of the Indra and Harry Banga Gallery today (January 28):

Michael (Council Chairman of City University of Hong Kong, Professor Michael Ngai), Professor Lee (Provost and Deputy President of City University of Hong Kong, Professor Lee Chun-sing), Dr and Mrs Banga (Founding Patrons of the Indra and Harry Banga Gallery, Dr Harry Banga and Mrs Indra Banga), Alvin (Director of the Indra and Harry Banga Gallery, Professor Alvin Yip), curators and exhibiting professors, ladies and gentlemen,

Good evening. It is a pleasure to join you for the opening of the "Prototyping: " Exhibition and to celebrate the 10th anniversary of the Indra and Harry Banga Gallery. Please allow me to extend my warm congratulations to the City University of Hong Kong on this remarkable occasion.

I had the pleasure of visiting the exhibition just now. It vividly illustrates how technologies developed in Hong Kong can be translated into real-world applications, and how artists and scientists can co-create works that engage a broader audience. This spirit of enterprise and collaboration is precisely what Hong Kong needs to strengthen both our arts and innovation ecosystems, and to nurture the next generation of versatile talent.

Over the past decade, the Banga Gallery has become a flagship venue of the City University and a pioneer in cross-disciplinary exhibitions. It plays a vital role in promoting cultural heritage and fostering dialogue among diverse cultures and civilisations. As a platform for innovative experimentation, the Gallery serves as a living laboratory where new ideas are explored, refined, and shared. Its exhibitions have inspired practitioners across the region and contributed to the ongoing development of Hong Kong's cultural institutions and ecosystem.

As our community looks to new pathways to generate economic value, the Gallery's experience serves as a good point of reference. Consumers nowadays increasingly seek novel, personalised experiences, placing greater emphasis on emotional connection and meaning. The intersection of art and technology offers valuable insights into how innovative products and services can be developed, ones that resonate with the public and create new markets.

That is why the HKSAR (Hong Kong Special Administrative Region) Government is committed to advancing the development of arts, culture, and the creative industries. We see this not only as a means to cultivate new economic drivers, but also as a powerful way to enhance Hong Kong's global appeal, enrich the cultural life of our community, and reinforce our unique role as an East-meets-West centre for international cultural exchange.

On innovation and technology (I&T), our ambition is equally clear: we are fully committed to promoting I&T, injecting fresh momentum into our economy, and creating high-quality career opportunities for our people. Talent is the cornerstone of this endeavour. We must continue to promote science and technology across society, and ignite a passion for innovation and discovery - especially among our young people.

In this regard, the Gallery's work is both meaningful and impactful. It demonstrates how cross-sector collaboration can expand horizons, foster community connections, and inspire the next generation of talent.

In closing, allow me to express my heartfelt gratitude to the Gallery, the Banga family, and all patrons for your generous support and the good work done.

I wish the exhibition every success. And as the Year of the Horse is drawing near, taking this opportunity I wish you good health, happiness and blessings in the Year of the Horse. Thank you.

Speech by FS at Prototyping: Exhibition Opening cum Kick-off of 10th Anniversary of Indra and Harry Banga Gallery Source: HKSAR Government Press Releases

Speech by FS at Prototyping: Exhibition Opening cum Kick-off of 10th Anniversary of Indra and Harry Banga Gallery Source: HKSAR Government Press Releases

Speech by FS at Prototyping: Exhibition Opening cum Kick-off of 10th Anniversary of Indra and Harry Banga Gallery Source: HKSAR Government Press Releases

Hong Kong’s startup ecosystem is thriving, attracting a growing number of local and international founders. The city’s business-friendly environment and strong innovation support make it an appealing base for startups aiming to expand in the region.

Startups thriving in HK.

One of them is a Hong Kong fintech startup that was acquired last year by a loyalty and travel rewards platform from Singapore.

David B Wang, the platform’s Global Head of Loyalty Partnerships and General Manager of Hong Kong, said the city offers favourable conditions for startup development.

Hong Kong is first and foremost a travel hub, he noted, adding that following the COVID-19 pandemic recovery, passenger traffic at Hong Kong International Airport has benefited significantly, and with a new terminal opening, he expects travel demand to continue growing.

David B Wang, the platform’s Global Head of Loyalty Partnerships and General Manager of Hong Kong.

Mr Wang also highlighted Hong Kong as a dynamic fintech hub that unites financial services and innovation, enabling companies to test new ideas and products. He also expressed appreciation for the various partners and stakeholders who supported the company’s entry into Hong Kong.

“Thanks to organisations, including Cyberport and Invest Hong Kong, for giving us the resources and showing us that there is an ecosystem here for us to tap into so that we can accelerate our growth and expansion to the market.”

Startups thriving in HK.

Last year, the number of startups and startup employees in Hong Kong reached new all-time highs. According to Invest Hong Kong, the number of startup firms in the city exceeded 5,200 in 2025, representing an 11% year-on-year increase. These companies employed nearly 20,000 people, reflecting growth of 12% compared with the previous year.

Director-General of Investment Promotion Alpha Lau said Hong Kong’s appeal extends far beyond its borders, with international founders accounting for approximately 33% of the city’s startup community, demonstrating that it is an ideal place for such firms.

“Whether they are local or from around the region using Hong Kong’s wonderful ecosystem for financing, or whether it is to look for support from government funding or develop test cases so that they can grow their dreams.”

Director-General of Investment Promotion Alpha Lau.

In 2025, Invest Hong Kong helped 560 companies to set up or expand their operations in the city. These companies are expected to bring in nearly $70 billion in direct investment and create more than 10,000 new jobs.

In addition, the New Capital Investment Entrant Scheme, which is partly administered by Invest Hong Kong, received more than 2,850 applications last year, and is expected to bring in investment of more than $85.5 billion to Hong Kong.

Looking ahead, Ms Lau said the department will focus on the Northern Metropolis and supporting Mainland enterprises in “going global” through Hong Kong.

Startups thriving in HK.

She said as Chinese Mainland industries continue to grow and expand their sales, technologies and investments abroad, Invest Hong Kong will help them to use the city as a platform. This includes managing the functions of their regional headquarters, fundraising, serving as a corporate treasury centre, and managing international operations.

Ms Lau outlined that the department will also identify companies that are interested in using the Northern Metropolis to expand their businesses, such as technology companies looking to establish research and development functions and pursue advanced manufacturing in the area.