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Sun Dong: Innovation & Tech as New Growth Engine for HK Econ, Providing More Favorable Biz Environment
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Sun Dong, Secretary for Innovation, Technology and Industry of Hong Kong, wrote in his blog that the city's innovation and technology industry has become a key engine for economic growth. He cited data that in 2023, the Manufacturing and New Industrial Industry added value reached HKD76.8 billion, representing a YoY increase of 7.6%, accounting for approximately 2.6% of the local GDP. The development of innovation and technology will concurrently boost the financial market, with Hong Kong's IPO fundraising amounting to HKD107.1 billion in the first half of 2025, a sevenfold YoY upsurge, ranking first globally, Sun accentuated. The listing of key tech companies such as CATL (03750.HK) and UBTECH ROBOTICS (09880.HK) in Hong Kong reflects the enhanced innovation and technology atmosphere in the city, said Sun. It is expected that the HKEX (00388.HK)'s newly added technology enterprises channel (TECH) optimizing listing rules will attract more specialized tech firms to raise funds in Hong Kong, achieving a synergy between finance and innovation and technology. AASTOCKS Financial News Website: www.aastocks.com |
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