HK's role as a "super-connector" in the HSITP as Northern Metropolis tackles land unaffordability: Fintech forum

Hong Kong is using its unique role as a "super-connector" and targeted cross-boundary policies to establish the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) as a global technology hub, HSITP ecosystem development director Anita Chau said at the “scaling innovation: the Northern Metropolis frontier” forum at the Hong Kong Fintech week. 

"We want to support companies from China through Hong Kong to overseas, and attract good tech companies overseas to Hong Kong to enter the ecosystem," Chau said, adding that companies can make use of and leverage Hong Kong's common law system, robust intellectual property protection, and government funding to scale internationally. 

Currently hosting over 100 companies, with around a quarter from overseas, HSITP has established dedicated channels to help and support tenant firms land in Dubai.  

Chau highlighted special policies operating within the Loop that strengthen collaboration between Hong Kong and China, including biological material arrangements that allow cells, organs, and blood to be transported to Hong Kong from China to support life sciences and medical technology development. 

The government is set to announce new capital flow arrangements next year. 

Ronald Cheng, principal assistant secretary for the Northern Metropolis at the Development Bureau, stated that the development of the Northern Metropolis addresses Hong Kong's land unaffordability bottleneck, adding that authorities have been introducing adaptive data legislation where the cross-boundary flow of factors of production can be enhanced.

Cheng noted that the Greater Bay Area presents opportunities for global pharmaceutical and medical device firms, as new drugs and devices used in Hong Kong public hospitals can gain access to the broader mainland market. 

Phase 1 of the Loop park has already completed three buildings, with its fourth building, the headquarters, scheduled for completion by the end of this year. Major local universities will enter the headquarters to engage in R&D ahead of the opening of the dedicated university loop in 2028. 

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