Read More
The government announced the sixth batch of 22 strategic enterprises on Monday, including mainland artificial intelligence firm MiniMax, mobility platform DiDi, and Pfizer, one of the world’s top ten pharmaceutical companies.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
Major investment and job creation expected
Speaking at the signing ceremony today, Financial Secretary Paul Chan Mo-po expressed his gratitude to the enterprises for choosing Hong Kong as a base for their future development.
He highlighted the diverse backgrounds of the firms and noted that the 124 strategic enterprises now committed to Hong Kong are expected to bring a total of HK$73 billion in investment and create 25,000 new jobs, primarily in research and management roles.
He added that 75 percent of them will establish regional or international headquarters in the city and 90 percent will set up research centers. Many have also expressed interest in settling in the Northern Metropolis.
Hong Kong's global appeal highlighted
Peter Yan King-shun, the Director-General of the Office for Attracting Strategic Enterprises (OASES), pointed out that this new batch has the highest proportion of overseas firms to date, with half of the companies hailing from Southeast Asia, Europe, and the United States.
Yan noted that this strong overseas representation reflects Hong Kong's stable and predictable business environment, which remains attractive to international firms amidst a changing global landscape. He also stated that it demonstrates the positive results of the government's multiple overseas promotional visits.
This new cohort alone is expected to bring HK$13 billion in investment, and OASES will monitor the enterprises' progress over the next five years to ensure they deliver tangible economic benefits to the city.
Aviation innovator eyes low-altitude economy
Among the new enterprises is AutoFlight, a Shanghai-based manufacturer of electric vertical take-off and landing (eVTOL) aircraft. Senior vice president Xie Jia described Hong Kong as an excellent window for global expansion, serving as a vital bridge between the mainland and international markets.
He noted that the company focuses on the low-altitude economy development. With its rich application scenarios, including pilot routes for aerial sightseeing and cross-sea travel, Hong Kong is an ideal pilot location for both cargo and passenger transportation.
He added that the government policy has helped the company expand its business, citing its participation in two projects under Regulatory Sandbox X. He revealed that the company will settle in the Northern Metropolis.
Gateway for global expansion
Huang Wei, founder of Beijing-based second-hand goods trading platform Zhuan Spirit Holdings Limited, said that the company aims to expand into European and American markets.
While initially considering both Hong Kong and Singapore as starting points for this overseas push, the company ultimately chose Hong Kong for its unique advantage of being backed by the country while remaining deeply connected to the world.
Pharmaceutical giant deepens local roots
Pfizer stated that the Hong Kong government has focused on developing the life and health technology sector in recent years. Coupled with its world-class universities, proximity to the Greater Bay Area, and the “1+” drug approval mechanism, these factors will support the company’s business expansion.
Having been rooted in Hong Kong for over 70 years with more than 140 employees, Pfizer pledged to strengthen communication with the government to accelerate future clinical drug approvals and better understand market needs.
The company also announced plans to conduct clinical and real-world data research in the city.
