HKSTP Welcomes the Budget to Accelerate Development of I&T Sector Through Technological Transformation

 Hong Kong Science and Technology Parks Corporation (HKSTP) welcomes the 2025-26 Budget announced today by the Financial Secretary, which places technological innovation at its core to harness the momentum of technological transformation for economic acceleration. The Budget outlines multiple measures to propel the rapid growth of Hong Kong’s innovation and technology (I&T) sector, reaffirming the city’s commitment to attracting global businesses and talent, advancing reforms through disruptive strategies, and fostering diverse new economic growth drivers.

Dr Sunny Chai, Chairman of HKSTP, said, “The new Budget confronts challenges with transformative action, guiding Hong Kong through measured reforms that consolidate and elevate the city’s diverse competitive industries. By sustaining investments to advance I&T, the Budget energises the modernisation of traditional sectors, amplifying Hong Kong’s influence and competitiveness as a global I&T powerhouse. HKSTP fully endorses the Budget’s I&T initiatives and will collaborate closely with business, academia, and the innovation ecosystem to integrate Hong Kong into the country’s overall development, accelerating our city’s rise as an international I&T hub.”

Developing the Northern Metropolis and Planning the San Tin Technopole Site

As Hong Kong’s I&T flagship, HKSTP welcomes the government’s innovative approach to accelerating I&T growth, particularly developing the San Tin Technopole and the Hong Kong Park in the Hetao Co-operation Zone into dedicated I&T clusters. We are currently carrying out a master planning study for the 20-hectare land for I&T in the San Tin Technopole, entrusted by the government to HKSTP from 2026-27 in phases for development and operation. The study, expected to be completed in the third quarter of this year, aims to optimise the site’s potential and unlock new opportunities for Hong Kong’s I&T ecosystem.

Supporting New Industrialisation to Propel Economic Growth

We welcome the Budget’s initiatives to advance new industrialisation, including the “Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+)” and the “New Industrialisation Acceleration Scheme” launched last year. HKSTP will dynamically align with these measures and market demands, spearheading Hong Kong’s economic growth through innovation-driven manufacturing. New smart pharmaceutical production lines of Jean-Marie Pharmacal Co., Ltd.  have become the first application secured support from the ‘New Industrialisation Vetting Committee’, establishing its operations at Tai Po InnoPark.  We provide world-class infrastructure and support from design and prototyping to pilot production to over 200 microelectronics-related companies in the park. The Hong Kong Microelectronics Research and Development Institute has established two pilot production lines at the Microelectronics Centre (MEC) in Yuen Long InnoPark, which are expected to commence operations next year.