PSITI: Hong Kong Hosts Second Global Innovation Show and Summit to Boost International Collaboration and Technological Advancement

Speech by PSITI at Second Global Innovation Show and Global Innovation Summit - Hong Kong

Following is the speech by the Permanent Secretary for Innovation, Technology and Industry, Mr Kevin Choi, at the Second Global Innovation Show and Global Innovation Summit - Hong Kong today (August 25):

Distinguished guests, ladies and gentlemen,

Good morning. It is my great pleasure to join you today at the 2nd Global Innovation Show and Global Innovation Summit (GIS) - Hong Kong. I would like to thank the organisers for bringing together innovation leaders, industry experts and entrepreneurs from the Chinese Mainland, Hong Kong and around the world to exchange insights and explore new opportunities for collaboration.

Based in Hong Kong, drawing upon the strengths of our country and engaging with the world, GIS brings together innovation resources from different places and strengthens connections among the cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). By bringing together the respective strengths of different places in technology, capital and markets, GIS provides a valuable platform for technological innovation and industry collaboration. This aligns well with Hong Kong's role as a bridge connecting the Chinese Mainland and the world, and our development into an international innovation and technology (I&T) centre.

This year marks the beginning of the National 15th Five-Year Plan period. The Plan reaffirms support for Hong Kong's development into an international I&T centre, while placing strong emphasis on technological innovation, industrial innovation and the development of new quality productive forces. Against this backdrop, the Hong Kong Special Administrative Region (HKSAR) Government is pressing ahead with new industrialisation, fostering strategic emerging and future industries while supporting the transformation and upgrading of traditional industries. Our strategic focus includes life and health technologies, artificial intelligence (AI) and robotics, as well as advanced manufacturing and new energy. By promoting the integration of technological and industrial innovation, we seek to accelerate the commercialisation of research and development (R&D) outcomes and develop new engines for Hong Kong's high-quality economic growth.

Our efforts are bearing fruit. Manufacturing and new industrialisation-related industries accounted for 3.8 per cent of Hong Kong's Gross Domestic Product in 2024. This reflects that the Government's new industrialisation initiatives are playing an increasingly important and positive role in promoting economic diversification and enhancing Hong Kong's overall competitiveness. We are also formulating Hong Kong's medium to long-term development plan of new industrialisation, taking into account the National 15th Five-Year Plan, opportunities for industrial synergy in the GBA, as well as Hong Kong's own industrial foundation and advantages.

To provide fertile soil for our I&T development, we are building a comprehensive I&T ecosystem anchored by three major I&T Parks and five key R&D institutions. In particular, the Loop Hong Kong Park is an important platform for I&T collaboration in the GBA and is envisioned to develop into a world-class innovation platform connecting international companies with the Chinese Mainland. As at July 2026, the Loop Hong Kong Park has already attracted over 100 technology enterprises and institutions to sign tenancy agreements, with its first two completed wet laboratory buildings leasing all available floor area. The adjacent San Tin Technopole will serve as a natural extension of the Loop Hong Kong Park, providing a large piece of land that can help accelerate the commercialisation of R&D results by providing industrial space for prototyping, pilot and mass production.

We are also providing targeted support to accelerate technology commercialisation and industrial development. The $10 billion New Industrialisation Acceleration Scheme provides matching funds for enterprises in designated industries to set up new smart production facilities in Hong Kong, while the $10 billion Innovation and Technology Industry-Oriented Fund channels market capital to invest in emerging and future industries of strategic importance. Earlier this year, we also launched the New Industrialisation Elite Enterprises Nurturing Scheme, focusing on supporting high-growth enterprises that contribute to the development of new industrialisation in Hong Kong, with the goal of nurturing emerging and future industry enterprises.

At the same time, we are deepening I&T and industrial collaboration within the GBA. Under "one country, two systems", Hong Kong is proactively integrating into and serving the overall national development, while giving full play to our unique strengths as an international city. By leveraging Hong Kong's strengths in R&D and international connectivity, we can foster deeper integration of technological and industrial innovation and create greater opportunities for enterprises across the region. The Shenzhen-Hong Kong-Guangzhou innovation cluster ranked first globally in the Global Innovation Index 2025, demonstrating the strong innovation capabilities of the GBA.

We are continuing to deepen this collaboration. In September 2024, the HKSAR Government and the Ministry of Industry and Information Technology (MIIT) signed the Co-operation Agreement on the Development of New Quality Productive Forces and the Promotion of New Industrialisation, supporting Hong Kong in developing new quality productive forces and promoting new industrialisation according to local conditions, while strengthening exchanges and promoting co-operation in industries where both sides have clear advantages.

Building on this foundation, our co-operation took another important step forward last month, when the HKSAR Government and MIIT signed the Co-operation Agreement on Advancing the Joint Establishment of Manufacturing Innovation Centre by the Ministry and Hong Kong. As announced in this year's Budget, it has been proposed to reserve funding to establish in Hong Kong the first national manufacturing innovation centre. Focusing on next-generation power semiconductor technologies, the Hong Kong Microelectronics Research and Development Institute will undertake the important task of taking the lead to operate the innovation centre.

For enterprises, these developments open up new opportunities to leverage the complementary strengths of Hong Kong and the GBA. Hong Kong can serve as a "super connector" and "super value-adder", helping Chinese Mainland enterprises connect with international innovation resources while providing overseas enterprises with a gateway to the GBA and the broader Chinese Mainland market. In this way, we can better leverage Hong Kong's strengths to serve our country's needs, while creating new room for development for enterprises in Hong Kong and beyond.

Looking ahead, the HKSAR Government will continue to strengthen our I&T ecosystem, advance new industrialisation and deepen synergy with our partners in the GBA. We welcome I&T enterprises and innovation partners from the Chinese Mainland and around the world to leverage Hong Kong's unique advantages, tap into the opportunities of the GBA and grow with our expanding I&T ecosystem.

By working together and leveraging our complementary strengths, we can contribute to developing the GBA into an international I&T hub with global influence and create new momentum for high-quality development. I wish GIS every success and all of you a rewarding and fruitful exchange. Thank you very much.

The Permanent Secretary for Innovation, Technology and Industry, Mr Kevin Choi, speaks at the Second Global Innovation Show and Global Innovation Summit - Hong Kong 2026 today (August 25). Source: HKSAR Government Press Releases

Housing Bureau reminds owners of Wang Fuk Court to return "Letter of Acceptance" before deadline

The Housing Bureau today (August 25) reminded owners of the eight buildings from Blocks A to H of Wang Fuk Court in Tai Po to sign and return the "Letter of Acceptance" at or before 5pm on August 31 if they accept the Government's acquisition offer.

Owners may submit the duly signed "Letter of Acceptance" with the return envelope enclosed with the "Letter of Offer" by post, by hand or by courier to the following address:

Housing Bureau, Hong Kong Special Administrative Region Government

c/o Wang Fuk Court Property Rights Acquisition Limited

1/F, Block 2, Hong Kong Housing Authority Headquarters,

33 Fat Kwong Street, Ho Man Tin, Kowloon, Hong Kong

For owners who opt to send the return by post, the postmark date will be taken as the submission date. Owners must therefore send their return by post before the cut-off time ends on August 31 to ensure the envelope is postmarked with that date. Owners may also choose to submit the return in person to the drop-off box at the above address at or before 5pm on August 31, or hand it over to their designated Engagement Team member.

A spokesman of the Housing Bureau said that in handling the long-term housing arrangement plan for Wang Fuk Court in Tai Po (long-term plan), the Government has consistently prioritised empathy as its guiding principle. In setting the acquisition price, the Government takes into account that the residents have lost their homes and suffered significant losses, and their difficult circumstances warrant the understanding and support from society. In addition, the scale and impact of the Wang Fuk Court fire are unprecedented in Hong Kong. The arrangements made for this "special case of exceptional nature" will not constitute a precedent. Therefore, the current acquisition price is about 30 per cent higher than the pre-fire market transaction prices of Wang Fuk Court as assessed by the Hong Kong Institute of Surveyors, with a view to enabling Wang Fuk Court owners to secure long-term housing. As reflected in the acquisition figures, the vast majority of owners welcome the Government's proposal.

The spokesman said that after the deadline of the long-term plan (i.e. August 31), the unsold titles will be reverted to and be handled through the market mechanism, and owners will inevitably have to bear the risks of not selling their flats before that deadline. The Government does not rule out the need to ultimately handle the unsold flat titles through legislative means.

The Government has reserved over 4 400 flats in a total of 10 development projects of the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HKHS) for owners who have sold their titles of Wang Fuk Court flats to the Government to purchase or to participate in the "Flat-for-Flat" arrangement.

The flat selection priority under the Special Sales Exercise will be determined in batches according to the date on which the duly signed "Letter of Acceptance" from the owners is received by the Government. The deadline for the first batch is June 30, and the deadline for the second batch is August 31. The flat selection order for applicants within the same batch will be further determined by their sequence as drawn in a ballot. The ballot and flat selection under the Special Sales Exercise will commence in September.

The Housing Bureau reminds Wang Fuk Court owners that if they have returned the "Letter of Acceptance" but have not yet signed the Agreement for Sale and Purchase, they may still participate in the ballot according to their respective batches. For owners who have already signed the Agreement for Sale and Purchase, thereby legally confirming the sale of their titles to the Government, they will be invited for flat selection. If the titles of the Wang Fuk Court flats have not yet been assigned to the Government, a new flat under the Special Sales Exercise will only be reserved for the owners during the flat selection stage. The HA/HKHS will enter into an Agreement for Sale and Purchase or a Provisional Agreement for Sale and Purchase with the owners for the purchase of the new flat only after the completion and execution of assignment.

The Engagement Team co-ordinated by the Housing Bureau will continue to communicate with Wang Fuk Court owners. If owners have any enquiries, they may contact their designated Engagement Team member or call the hotline at 2129 8133. Owners may also visit the dedicated website for the Wang Fuk Court long-term housing arrangements plan (www.hb.gov.hk/wfc) for further details.

Source: AI-found images