Zone projected to generate $52b every year and create 52,000 jobs

Jamie Liu

The government has allocated HK$3.7 billion to accelerate the development of infrastructure and public facilities in the first phase of the Hong Kong section of the Hetao Shenzhen Hong Kong Science and Technology Innovation Cooperation Zone.

Chan said the Hong Kong section of the zone will commence operations this year.

This initiative is projected to contribute HK$52 billion to the economy annually and create about 52,000 jobs.

He said innovation and technology will play a pivotal role in the Northern Metropolis, highlighting the project's significance for the social and economic advancement of the city.

Regarding the San Tin Technopole, Chan said the 20-hectare tech hub will be developed by the Hong Kong Science and Technology Parks Corp, with construction slated to begin in 2026-27. The corporation expects to finalize plans in the third quarter of this year.

Also, Chan discussed the rezoning of a 10-hectare site at Sandy Ridge in the North District for data centers, with the necessary procedures anticipated to be completed by mid-year.

Tertiary education is another key focus for the Northern Metropolis, with 90 hectares of land designated for a university town, which will include the city's third medical school.

Hong Kong has enticed over 60 strategic enterprises to settle in the region.

The Office for Attracting Strategic Enterprises has brought in 66 firms, with 80 percent establishing or planning to set up their global or regional headquarters in Hong Kong. Notably, many of these are innovation and technology enterprises valued at over HK$10 billion, focusing on cutting-edge technologies.

jamie.liu@singtaonewscorp.com