Speech by SITI at dinner reception co-hosted by London ETO and Hong Kong Chamber of Commerce in Sweden in Stockholm, Sweden
Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at a dinner reception co-hosted by the Hong Kong Economic and Trade Office in London and the Hong Kong Chamber of Commerce in Sweden in Stockholm, Sweden today (May 11, Stockholm time):
Distinguished guests, ladies and gentlemen,
Good evening. It is a pleasure to join you here in Stockholm. Home to more than 40 unicorns, from global music icons like Spotify, to the creators of mobile games like Candy Crush Saga, Sweden has shown to the world how innovation has been a story of connection. Hong Kong believes in the same.
Hong Kong and Sweden are both open economies with a global outlook. We invest in people, education and scientific excellence. In today's world, we are witnessing the convergence of major trends such as the rise of AI (artificial intelligence) and digitalisation, and the reshaping of global supply chain. Hong Kong is determined to seize the opportunities these trends bring.
I&T (innovation and technology) are at the heart of Hong Kong's economic future. Our I&T Blueprint, promulgated in 2022, sets out a coherent and forward-looking strategy to develop Hong Kong into an international I&T centre, with a focus on life and health technologies, AI and robotics, as well as advanced manufacturing and new energy.
In recent years, Hong Kong has established an I&T ecosystem anchored by three major I&T Parks and five key research and development (R&D) institutions. Through this framework, we hope to promote the positive interaction of research and development in the upstream, technology transfer in the midstream, as well as application and development of industries in the downstream.
Hong Kong is home to five of the world's top 100 universities. Our academic excellence and research capability are among our greatest assets. To leverage our strengths and foster global I&T collaboration, our flagship R&D initiative, InnoHK, has built collaboration with more than 30 world-renowned universities and research institutes from 12 economies, including Sweden. Together, we have set up a total of 38 research centres under three clusters focusing on the research on health technologies, AI and robotics, and sustainable development, energy, advanced manufacturing and materials, pooling together more than 3 000 international research talents. We are proud to have Karolinska Institutet as a key collaborating partner in two of these centres, demonstrating the synergy between Swedish scientific excellence and Hong Kong's research strengths.
We are also making bold and strategic investment in I&T infrastructure. The most exciting development is the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Hong Kong Park).
Opened last December, the Hong Kong Park will become a worldclass hub for frontier research, technology translation, and pilot production. What makes it unique is its cross-boundary model combining Hong Kong's robust R&D capabilities and international openness with Shenzhen's industrial depth and manufacturing power. This is a perfect destination for Swedish companies that hope to tab into the vast Mainland market while at the same time enjoying the various convenience of doing business in Hong Kong – our low and simply tax system, free flow of capital, our common law system – to name but a few.
Here in Sweden which is a global leader in life sciences and health technology, let me share with you all that Hong Kong is establishing the Life and Health Research Institute with a focus on "AI and Life Sciences" in the Hong Kong Park. This Institute will leverage Hong Kong's R&D strengths in life and health technology supplemented by artificial intelligence, attract leading global innovation and technology talents and research teams to Hong Kong. We hope to achieve more original results and pioneering breakthroughs, and accelerate the transformation of research outcomes, so as to allow Hong Kong to contribute to the health and well-being of humanity worldwide. On this, we very much welcome Swedish researchers, start-ups and enterprises to join this new Institute for more regional and global I&T collaboration.
AI is reshaping industries worldwide. Sweden has developed its national AI Strategy, and so has Hong Kong. Putting forward our national AI+ initiative, Hong Kong is focusing on "strengthening infrastructure and promoting the application-oriented approach" to drive AI across multiple dimensions. The Hong Kong AI Research and Development Institute will commence operation later this year. The Institute welcomes international collaboration including joint labs, researcher exchanges, and codevelopment of AI governance frameworks, an area where Nordic countries are global leaders.
Our digital infrastructure is also expanding rapidly. The Sandy Ridge Data Facility Cluster, now under construction, will provide 180 000 PFLOPS (peta-floating point operations per second) of computing power by 2032. It will serve as a secure, efficient international data hub that supports digital innovation and AI-related industries.
Hong Kong is also making use of market forces to develop our strategic technology industries. For example, we will soon launch a HK$10 billion funds-of-funds called the I&T Industry-Oriented Fund, approximately 11.9 billion Swedish kronor, to encourage market capital to invest in strategic industries. By selecting eligible professional fund managers to set up sub-funds, we hope to channel more market capital to invest in I&T industries and support the development of emerging and future industries of strategic importance to Hong Kong. We very much welcome capital from Sweden to join us on this exciting venture.
We are happy to see that our dedication to I&T has come to fruition. In the Global Innovation Index 2025 Ranking of World's Top 100 Innovation Clusters by World Intellectual Property Organisation, the Shenzhen-Hong Kong-Guangzhou innovation cluster ranked first globally for the first time. In the 2025 World Digital Competitiveness Ranking published by the International Institute for Management Development, Hong Kong ranked fourth globally. We also witnessed a record high of 5 200 start-ups in Hong Kong—an increase of around 40 per cent compared with five years ago. Over the past few years, we have also facilitated more than 600 leading I&T or high potential enterprises to set up or expand their businesses in Hong Kong, including international names like AstraZeneca and Pfizer.
Ladies and Gentlemen, Hong Kong is always open to global talent and ideas and will continue to play our role as a "super connector" and "super valueadder" at an international level. As we look ahead, I am confident that the ties between Hong Kong and Sweden will continue to deepen and I look forward to the many possibilities we will create together.
May I thank the Hong Kong Chamber of Commerce in Sweden and the Hong Kong Economic and Trade Office in London for organising this reception. I wish everyone an enjoyable evening. Thank you.
The Secretary for Innovation, Technology and Industry, Professor Sun Dong, attended a dinner reception co-hosted by the Hong Kong Economic and Trade Office in London and the Hong Kong Chamber of Commerce in Sweden in Stockholm, Sweden on May 11 (Stockholm time). Photo shows Professor Sun delivering a keynote speech at the dinner reception. Source: HKSAR Government Press Releases
