Allow me to take a moment to highlight why Hong Kong is the ideal strategic destination for innovation and technology businesses.
In addition to our world-class infrastructure and business-friendly environment mentioned by Margaret (Trade Development Council Executive Director Margaret Fong), Hong Kong’s “one country, two systems” arrangement has set us apart from any other city in Asia. To name just a few of our unique strengths, we have:
– first, convenient access to the vast Chinese Mainland and Asian markets;
– second, a trusted common law system and strong intellectual property protection;
– third, the convergence of Mainland and international data and capital; and
– fourth, a thriving international talent pool that attracts and nurtures the top minds from around the world.
These strengths have made Hong Kong a premier launch-pad for companies looking to scale up their business in Asia and beyond.
Today, we are home to over 4,700 startups, and 28% of their founders come from outside the city. For a glimpse of this dynamism, I encourage you to visit InnoEX, which showcases the ingenuity of our startups and talent, with groundbreaking innovations ranging from AI and robotics to green tech, smart mobility, and much more.
Hong Kong’s appeal extends beyond these. We offer a comprehensive funding ecosystem, spanning angel investments, venture capital and private equity, to one of the world’s deepest and most liquid stock markets. Besides, together with Greater Bay Area cities like Shenzhen and Guangzhou, we offer you a vibrant ecosystem that caters to the needs of innovative companies from different sectors and different stages of development. In fact, we have been ranked the world’s second most innovative cluster for five consecutive years.
Ladies and gentlemen, we gather at a pivotal moment. We are witnessing a shifting global landscape marked by a daunting trade war and technological fragmentation. Trade patterns, industrial chain, supply chains and partnerships are being reshaped. In this “new normal”, many businesses will have to find new collaborators, explore untapped markets and embrace more agile business models.
In these turbulent times, Hong Kong remains open and welcoming to businesses and talent from all over the world. We are eager to establish new connections and forge new partnerships. These are in our DNA. Rest assured that our free port status and free trade policy remain unshaken. We are firm in our commitment to the free flow of capital, goods, talent and information.
Let me conclude by extending my gratitude to my government colleagues, the HKTDC, and all the exhibitors and partners who have brought the BIT Week to life. To our visitors: beyond networking and conducting business, please take some time to explore this vibrant city, not just our scenic hills, stunning coastlines and beautiful outlying islands, but also the 200+ Michelin-recommended restaurants. We impose no duty on wine. Coldplay was performing in our world-class Kai Tak Stadium. The Palace Museum and M+ museum are just across the harbour.
I am sure you will enjoy the city, and wish you all the best of business and health for the time ahead.
Financial Secretary Paul Chan made these remarks at the BIT Week 2025’s opening ceremony on April 13.
