The overall development of the six key industries in the Greater Bay Area (GBA) has accelerated from 4.9 percent to 7.1 percent, according to a survey conducted by Our Hong Kong Foundation.
The survey, which interviewed 3,400 GBA enterprises across 11 cities, focused on the two major themes of “AI application” and “going global.”
The results showed the innovation & technology (I&T) industry becoming the primary growth driver across the area, with a 14.8 percent increase.
Hong Kong retains its leading position within the GBA in the financial services, trade & logistics, and culture, sports & tourism industries, with its increasingly solidified status as an international financial centre being particularly notable.
For example, Hong Kong's Initial Public Offering (IPO) market saw a strong rebound in the first half of the year, with a total of 42 new listings raising over HK$100 billion, ranking first globally.
The survey also indicated that while Hong Kong leads in AI readiness, its development faces challenges.
It suggested that the government improve the market research network for overseas expansion and establish offices in emerging markets such as the Middle East.
The foundation also proposed allocating land in the Northern Metropolis for developing smart micro-factories to build Hong Kong's innovation and technology ecosystem.
Under Secretary for Commerce and Economic Development Bernard Chan Pak-li noted that the authorities will continue to strengthen efforts to attract investments and capital and to improve the city's capacity for international engagement.
The government aims to broaden the "circle of economic and trade friends" in the hope of creating a more favorable business environment for Hong Kong.
