25 strategic enterprises agree to set up and expand operations in HK

Some key enterprises, including life and health technology, AI and data science, fintech, advanced manufacturing, and new energy technology, agreed with the government to set up or expand their businesses in the city.

A total of 25 companies signed agreements with the Office for Attracting Strategic Enterprises (OASES) on Wednesday.

Chief Executive John Lee Ka-chiu said these companies possess the advantage of "new quality productive forces" to power the country's growth and high-quality development.

He added that along with the first batch of approximately 30 strategic enterprises announced in October last year, there will be a total of around 50 key companies investing over HK$40 billion in Hong Kong in the coming years, creating more than 13,000 job opportunities.

Lee believes that these enterprises will attract a number of partners and related businesses to Hong Kong, bolstering the rapid development of the city's innovation and technology sector.

Among the second batch of key enterprises, 14 are based in the mainland and five come from the United States. They include mainland robotics manufacturer "UBTECH Robotics", biotech company "Nuance Pharma" and "Biomap", as well as the U.S. logistics payment platform "PayCargo."

Financial Secretary Paul Chan Mo-po said in the Partnership Signing Ceremony that OASES will continue to communicate with at least 300 key enterprises this year to draw them to the city.

He noted that Hong Kong possesses a mature financial ecosystem capable of meeting the funding needs of different enterprises at various stages of development.