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2026-09-16 11:58:46 Chief Executive John Lee announced Hong Kong's first Five-Year Plan. In the areas of finance and technological innovation, the government will launch a HKD10 billion Innovation and Technology Industry-Oriented Fund covering five thematic sectors, including life and health technology, artificial intelligence and robotics, semiconductors and smart devices, digitalization and upgrading transformation, as well as future and sustainable development. The fund size is expected to reach at least HKD40 billion, meaning market capital investment will be at least 3x the total amount contributed by the government. The government will launch an Innovation and Technology Venture Fund (ITVF) enhanced scheme, allocating up to HKD2.5 billion to establish joint funds with industry partners to invest in start-ups in strategic industries. The plan is expected to attract at least HKD7.5 billion in market capital. Through the wholly government-owned Hong Kong Investment Corporation Limited acting as patient capital, the government will actively advance co-investments centered on hard technology, life technology, new energy/green technology, and related applications. Financial technology development will also be steadily advanced, including four key areas: data and payment infrastructure, artificial intelligence, enhanced resilience, and financial tokenization. ~ AASTOCKS Financial News Website: www.aastocks.com | |