Hong Kong-Shenzhen Innovation Park opens with strong demand from global firms

The Hong Kong-Shenzhen Innovation and Technology Park (HSITP) in the Lok Ma Chau Loop officially opened, attracting over 60 companies with wet lab rental rates nearing 80 percent, officials announced.

Permanent Secretary for Innovation, Technology and Industry Kevin Choi said the park's key advantages include its vast size—four times larger than the Hong Kong Science Park—and its proximity across the river to Shenzhen's district, enabling seamless cross-border research and pilot production.

In a radio program, Choi revealed that the first phase features three completed buildings—two wet laboratories and one residential apartment for talent.

The labs have achieved nearly 80 percent occupancy, with more than 60 overseas, mainland Chinese, and local enterprises moving in.

One-quarter of these companies come from overseas, while the rest are from the mainland and Hong Kong. He expects rental rates to reach 90 percent by the first quarter of this year.

Half of the resident companies focus on artificial intelligence and data science, while 40 percent work in life and health technology, microelectronics, and new energy, Choi added.