Hetao HK Park to accelerate development, target 2026 completion: Tech chief

The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is accelerating construction of the remaining five buildings in Phase 1, aiming to complete and commission by the end of this year, Secretary for Innovation, Technology and Industry Sun Dong said on Sunday. 

Speaking on a radio program, Sun noted that the latest Budget proposes earmarking HK$10 billion for the park company to further develop the zone. He said the zone has entered its second phase of development.  

For the remaining land from Phase 1, the authorities hope to accelerate development by leveraging market forces, and that the majority of the proposed HK$10 billion funding will be used for public–private partnerships. 

Sun revealed that construction of the remaining five buildings under the first phase at the park is now underway around the clock. While earlier plans targeted their gradual completion from 2027, the government now aims to complete them by the end of 2026, in response to the rapid pace of developments and strong demand arising from both the national and Hong Kong’s Five-Year Plans.

He added that authorities have previously received 27 Expression of Interest from local, mainland, and overseas entities for the park. The government hopes to launch the first batch of land parcels soon, and will continue releasing sites during the coming year from this year into next. 

As China’s two sessions are being held in Beijing, Sun noted that the draft outline of the 15th Five-Year Plan contains a dedicated chapter on Hong Kong and Macau, highlighting the country’s high regard for both regions’ role in the nation’s future development, particularly in driving innovation and technology (I&T) and fostering new quality productive forces.

He emphasized that the nation increasingly recognizes Hong Kong as a vital technological powerhouse. Hong Kong is irreplaceable in helping the nation achieve high-level technological self-reliance and strength, original innovation, and in leveraging its international connectivity and role as a bridge between the mainland and the world.