Hong Kong to welcome 10 more strategic firms, with focus on AI, big data: Paul Chan

Finance minister says latest batch of firms attracted under government initiative are from mainland China, US and Europe

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The government identifies four industries as having strategic importance to the future development of Hong Kong, including artificial intelligence and data science. Photo: Edmond So

Published: 6:56pm, 6 Oct 2024Updated: 9:25pm, 6 Oct 2024

More than 10 companies in strategic sectors such as artificial intelligence (AI) and big data will become the latest to set up offices in Hong Kong under a government push to promote development in technology industries, the city’s finance chief has said.

Financial Secretary Paul Chan Mo-po said on Sunday the businesses were from mainland China, the United States and Europe.

Announcing the news in his weekly blog post, Chan said some of the companies were leaders in their fields and they would be officially unveiled next month.

He hailed the work of the Office for Attracting Strategic Enterprises (OASES), a government unit created to attract firms in identified strategic fields to establish operations in Hong Kong.

“Take one recent case OASES has been following as an example. A technology company rented 8,000 sq ft in a grade A commercial building. It also set up its international corporate treasury centre and research and development centre in Hong Kong so as to better explore and develop its business in the Asean region,” Chan said.

“It can be expected that as more companies settle in Hong Kong or expand their operations here, demand for office space and other professional support services will be boosted.”