Keynote speech by SITI at Australia-China Innovation Summit organised by Australia China Business Council in Melbourne, Australia
Following is the keynote speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Australia-China Innovation Summit organised by the Australia China Business Council in Melbourne, Australia, today (June 23, Melbourne time):
Distinguished guests, ladies and gentlemen,
Good afternoon. It is a pleasure to join you all today at the Australia-China Innovation Summit. My sincere thanks to the Australia China Business Council for bringing us together and for giving me this opportunity to share Hong Kong's latest innovation and technology (I&T) landscape and the promising opportunities for deeper Hong Kong-Australia collaboration.
Hong Kong and Australia have long been connected through trade, investment and vibrant people-to-people ties. These links were further strengthened when the Free Trade Agreement and Investment Agreement entered into force in 2020, opening new channels for business, enhancing market access, and reinforcing our shared commitment to open, rule-based economic co-operation.
Today, a new chapter of collaboration is unfolding. Supported by the National 15th Five-Year Plan, Hong Kong is moving full steam toward its vision of becoming an international I&T centre and a global hub for high-calibre talent.
Promoting I&T development ranks high on the agenda of the current term of the HKSAR (Hong Kong Special Administrative Region) Government. Our goal is clear: to inject new impetus into economic growth, develop a diversified economy, and create high-quality jobs. In 2022, we promulgated the I&T Development Blueprint, setting out clear directions and strategies for Hong Kong's future I&T development. We adopt a clear industry policy, with priorities in several areas including life and health technology, AI and robotics, advanced manufacturing and new energy technology.
Hong Kong's I&T strength begins with talent. We are home to five universities ranked among the world's top 100, including two medical schools in the global top 40, and three universities ranked among the world's top 30 in data science and AI. This academic strength provides a solid R&D (research and development) foundation to transform research breakthroughs into real-world applications.
Our flagship R&D initiative, InnoHK, exemplifies this ambition. It has built collaboration with more than 30 world-renowned universities and research institutes from 12 economies, brought over 3 000 international researchers, and set up a total of 38 laboratories. We are proud that two leading Australian institutions - the University of Melbourne and the University of Queensland - are in collaboration with one of our InnoHK R&D centres named the Microbiota I-Center, which focuses on advancing microbiome science for personalised healthcare. We look forward to more collaboration with Australia to conduct world-class and impactful collaborative research.
The HKSAR Government is also committed to promoting I&T development through strategic investments. Three HK$10 billion initiatives are introduced to drive research translation and tech industry growth. The Research, Academic and Industry Sectors One-plus Scheme, launched in 2023, accelerates the commercialisation of outstanding university research and has already supported 73 projects. The New Industrialisation Acceleration Scheme, launched in 2024, supports strategic industries in establishing smart production facilities in Hong Kong. This year, we will launch the Innovation and Technology Industry-Oriented Fund to further channel market capital into emerging and future industries of strategic importance.
We are also investing HK$3 billion, around AUD550 million, in the Frontier Technology Research Support Scheme, enabling local universities to recruit international top-notch researchers or scientists in frontier fields. To support start-ups, we launched the Pilot I&T Accelerator Scheme earlier this year to attract professional I&T accelerators from around the world to set up bases in Hong Kong. Together, these initiatives provide robust and tangible support across all stages of innovation - from talent attraction and basic research to start-up development and industry scaling.
Infrastructure is equally critical. The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is a powerful example. Located at the boundary between Hong Kong and Shenzhen, it enables the seamless flow of talent, capital, data and essential materials such as biological samples. Since its opening last December, more than 90 tenants from pillar industries such as life and health technology, microelectronics, new energy and AI have already established a presence there, signalling strong confidence in Hong Kong as a place where business can grow.
Hong Kong's northern region is rapidly emerging as a powerful engine for future I&T development. The Hetao Hong Kong Park and the adjoining San Tin Technopole will form a complete pipeline from research to prototyping, pilot production and full-scale manufacturing. By 2032, the Sandy Ridge Data Facility Cluster will provide 180 000 PFLOPS of computing power - 36 times Hong Kong's current capacity - creating a major cross-boundary data hub that strengthens Hong Kong's AI development and high-performance computing. With the pilot lines in the Hong Kong Microelectronics Research and Development Institute coming into operation later this year, Hong Kong is building a comprehensive I&T corridor in the North, integrating research, computing power, prototyping, testing and manufacturing into a unified ecosystem.
This new cluster will stand among Asia's most dynamic I&T ecosystems, connecting Hong Kong's research excellence and institutional advantages with the vast application scenarios and market opportunities of the Chinese Mainland - especially the Greater Bay Area, home to 88 million people and a GDP exceeding AUD3.1 trillion.
Hong Kong ranks second globally overall in the latest IMD (International Institute for Management Development) World Competitiveness Ranking and fourth in digital competitiveness, reflecting a mature ecosystem where talent, capital, and policies align. Our start-up scene has surged to 5 200 companies, a growth of 40 per cent since 2021. A quarter of founders are from overseas, which is a clear sign that international entrepreneurs see Hong Kong as a place where they can scale fast, plug into global markets, and operate with confidence. Coupled with Hong Kong's bilingual business culture, simple low-tax system, professional services and world-class infrastructure, all of these make Hong Kong a natural fit for Australian innovators looking for transparent, high-trust environments.
Ladies and gentlemen, Hong Kong and Australia share a long history of partnership and friendship. As the global economy undergoes profound transformation driven by technology, our two economies are exceptionally well placed to co-create solutions that are trusted, scalable and globally competitive. Whether in life and health sciences, AI, advanced manufacturing, or green technology, the opportunities before us are abundant and growing.
I warmly invite Australian businesses, researchers and innovators to deepen your engagement with Hong Kong - to explore our I&T ecosystem, to partner with our universities and research institutes, and to seize the opportunities emerging across the Greater Bay Area. Hong Kong stands ready to act as a "super-connector" and "super value-adder" for businesses seeking international growth.
May I wish the summit a great success. Thank you very much.
The Secretary for Innovation, Technology and Industry, Professor Sun Dong, attended the 2026 Australia-China Innovation Summit organised by the Australia China Business Council in Melbourne, Australia, today (June 23, Melbourne time). Photo shows Professor Sun delivering a keynote speech at the summit. Source: HKSAR Government Press Releases
