In a milestone moment, the Shenzhen-Hong Kong-Guangzhou group has been recognized as the top performer in the Global Innovation Index (GII) top 100 innovation clusters by the World Intellectual Property Organization (WIPO).
Speaking before the announcement of the rankings at the GII event on Monday, Financial Secretary Paul Chan Mo-po emphasized the ranking as a key benchmark for innovation clusters.
With a newly introduced venture capital activity as the new metric for the Index, Chan underscored that innovation not only relies on ideas and talent but also on capital support.
Chan pointed out that Hong Kong is home to five universities ranked among the world's best 100, alongside 15 State Key Laboratories and six Hong Kong branches of Chinese National Engineering Research Centres.
Highlighting the government's commitment to enhancing the innovation ecosystem across sectors like artificial intelligence, biotechnology, fintech, and new materials, Chan reported that over 80 leading enterprises have established operations in the city, resulting in investments of approximately US$6.5 billion and generating over 20,000 jobs.
As Hong Kong is Asia's leading financial hub, the financial chief noted that the city has raised over US$16 billion from new stock listings in the first seven months of the year, outpacing global markets. Notably, the Hong Kong Investment Corporation Limited -- established in 2022 -- has invested in more than 120 projects to date.
Regarding the introduction of talents, Chan stressed that Hong Kong offers a safe, international living environment and diverse job opportunities.
He believes the city's strong connection to the global market and the Greater Bay Area will attract global innovators.
Meanwhile, Secretary for Innovation, Technology and Industry Sun Dong welcomed the ranking, stating it reflects the Greater Bay Area's innovation capabilities and global recognition.
Sun also expressed gratitude to WIPO for choosing Hong Kong as the venue for this significant announcement.
Echoing Chan's views, Sun noted that the new metric has propelled the Shenzhen-Hong Kong-Guangzhou cluster ahead of its competitors.
Looking ahead, Sun outlined the government's plans to strengthen patent applications, enhance research capabilities, increase scientific publications, and nurture more startups.
Additionally, Sun revealed the next step to deepen close cooperation with other cities in the Greater Bay Area, working together to foster technological innovation.
