Hong Kong Innovation, Technology and Industry Council: Continuously optimizing support strategies to help enterprises enhance competitiveness and meet transformation challenges

The Zhitong Finance App learned that on August 31, Cai Jieming, Permanent Secretary General of the Hong Kong Innovation, Technology and Industry Bureau, said in a speech at the APEC symposium on SME capacity building and resiliency development that in March 2026, there were about 360,000 small and medium-sized enterprises in Hong Kong, accounting for more than 98% of the total number of Hong Kong enterprises, providing employment opportunities for 1.2 million people. SMEs play an important role in Hong Kong's economic system, and the pace of upgrading and transformation has a critical impact on overall economic momentum. To this end, the Hong Kong Government continues to optimize support strategies and simultaneously advance various aspects such as financial support, technology application, capacity building and market development to help enterprises enhance their competitiveness and meet transformation challenges. At the same time, relevant measures are also aimed at promoting enterprises to better connect with national development strategies.

Cai Jieming explained that Hong Kong's I&T layout is centered around “three major innovation and technology parks and five major R&D institutions”. In terms of enterprise development, various innovation and technology parks continue to play an important role, providing comprehensive support to startups, including capital, technical guidance, investor matchmaking, and market expansion. The Science Park Company has helped startups move from concept to market through various programs, and the Hetao Port Shenzhen Innovation and Technology Park has also launched a cultivation plan to focus on key areas such as life and health technology and artificial intelligence to further promote the development of the innovation and technology ecosystem. At the same time, Cyberport has adopted a number of entrepreneurship support programs to help startups reduce R&D costs, speed up product implementation, and launch an innovation and entrepreneurship base for one-person companies (OPCs) in July of this year. Furthermore, the Hong Kong Government launched the Innovation and Technology Accelerator Pilot Program in January 2026 to attract more experienced professional startup service organizations from home and abroad to establish accelerator bases in Hong Kong and provide more adequate and adequate support for the development and needs of startups through their commercial networks and experience.

In terms of promoting the upgrading and transformation of manufacturing, the Hong Kong Government supports enterprises to set up intelligent production lines in Hong Kong by optimizing the new industrialization funding scheme to promote high value-added and intelligent manufacturing. As of June 2026, the relevant scheme has supported 79 applications involving more than 130 production lines and an investment of approximately HK$1.7 billion, covering various industries. In addition, the “Manufacturing and Production Line Upgrading Support Pilot Program” provides funding to local manufacturing enterprises to encourage upgrading existing production lines and introducing intelligent technology to enhance overall productivity and competitiveness. Hong Kong also launched the New Industrial Elite Enterprise Cultivation Program in June this year. In line with the development direction of Hong Kong's new industrialization, it selects and focuses on nurturing a group of enterprises that develop in Hong Kong, have high growth potential, and contribute to Hong Kong's economic development, and cultivate future leaders in the new industrial industry for Hong Kong.

As far as supporting enterprises to expand their markets, the Hong Kong Government continues to adopt a number of funding schemes to help enterprises develop brands, upgrade and transform, and explore mainland and overseas markets. In order to encourage enterprises to make good use of technology to enhance competitiveness, the scope of relevant funding already covers the application of artificial intelligence. Hong Kong also provides comprehensive support services through multiple service centers to provide one-stop assistance to enterprises, enhance their capabilities in digital transformation, e-commerce and market development, and help them seize global market opportunities. On the other hand, relevant agencies have been actively assisting enterprises in promoting artificial intelligence and digital transformation, including helping enterprises find suitable artificial intelligence and digital transformation solutions and matching reputable service providers to improve operational efficiency and open up new business opportunities.

Choi Kai-ming pointed out that Hong Kong has always built a bridge of international cooperation by relying on the motherland and connecting the world. The HKSAR Government will seize the opportunities brought by national development, deepen collaborative development with regional partners, expand Hong Kong's international ties, give full play to its unique advantages, and contribute Hong Kong's strength to the resilient development of small and medium-sized enterprises in the Asia-Pacific region.