AI ‘central plank’ in Hong Kong’s economic development, John Lee says

Hong Kong’s high-quality economic development will be guided by its first five-year blueprint and the coming policy address, with AI as the “central plank”, the city’s leader has said. Speaking at the South China Morning Post’s China Conference 2026 on Tuesday, Chief Executive John Lee Ka-chiu also said Hong Kong’s “one country, two systems” advantages and commitment to innovation and technology put the city in a position to connect the world with opportunities in a future powered by artificial intelligence (AI). “Hong Kong is recognised worldwide for its openness, deep international networks and role as a vital bridge between mainland China and the rest of the world,” he said. This year’s China Conference, themed “Intelligence at Scale: Hong Kong’s AI-Powered Future”, was primarily sponsored by Manulife. At the event, publisher Tammy Tam announced that the SCMP would host a China Conference in Astana, Kazakhstan, in September. The announcement follows Chief Executive Lee’s high-level delegation to Central Asia last month and marks the first such event organised by a local media outlet in the region. Tuesday’s conference spanned eight sessions, drew about 500 attendees and featured local and overseas business leaders and regulators as speakers. A recurring theme was how Hong Kong could better facilitate China’s 15th five-year plan, with some experts urging the authorities to map out more specific strategies and priority sectors in the city’s first-ever five-year development blueprint. Others said Hong Kong could leverage its strengths to serve as a launch pad for mainland Chinese enterprises seeking to expand overseas. Last month, the government launched a two-month public consultation on its first five-year plan, aiming to publish the blueprint in the third quarter. During Tuesday’s event, Lee described the plan as a “historic milestone” and a strategic road map aligning Hong Kong with the national 15th five-year plan, which will guide the country’s development from 2026 to 2030. He said the blueprint would outline the city’s vision for the Northern Metropolis, the advancement of innovation and technology, and the development of finance, shipping and trade. Lee also highlighted the recently launched public consultation for the final policy address of his five-year term, due in October. “The two documents will guide our high-quality economic progress and [improve] the livelihood of the people,” he said. “One obvious area of importance is further developing Hong Kong as an international innovation and technology centre. In that development, artificial intelligence is a central plank.” Lee underscored the importance of the Shenzhen-Hong Kong-Guangzhou innovation cluster, ranked first among the world’s 100 leading innovation clusters in the World Intellectual Property Organization’s Global Innovation Index. He said this reflected the Greater Bay Area’s strength in turning innovative ideas into market-ready outcomes. The Northern Metropolis, a 30,000-hectare (74,130-acre) megaproject near the mainland Chinese border, would provide ample space for innovation and research, he added. He called on global businesses to establish a presence in the project, particularly at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, which hosts firms in life and health technology, AI and microelectronics. Lee pointed to government efforts to boost innovation and technology, including a HK$3 billion (US$382.5 million) AI subsidy scheme that has supported nearly 30 projects, and the Hong Kong Artificial Intelligence Research and Development Institute, set to begin operations in the second half of this year. Since 2022, 124 “strategic enterprises” – mainly in advanced manufacturing, new energy, AI and data science, fintech, and life and health technology – have established a presence in Hong Kong, he said. These companies are expected to invest HK$73 billion and create around 25,000 jobs. “Their presence is drawing a wave of complementary businesses, reinforcing Hong Kong’s status as a global hub where innovation, investment and continuing opportunities converge,” Lee said. He added that the city also enabled mainland companies to better connect with the world and allowed foreign investors to tap into the Chinese market. Lee further noted that InvestHK, the city’s investment promotion agency, assisted 560 mainland and overseas companies in setting up or expanding their businesses in Hong Kong in 2025, a 4 per cent increase year on year. He said the figure underscored Hong Kong’s role as a preferred location for regional headquarters and as a two-way bridge between the mainland and the world. “The Hong Kong government is determined to open up new opportunities for global business and talent,” he said. “We help them access, engage with and thrive in the Greater Bay Area and the Chinese mainland, with Hong Kong as their trusted gateway and strategic partner.” Executive Council member Jeffrey Lam Kin-fung, who is also the chairman of the Hung Shui Kiu Industry Park Company, said at the conference that he hoped his firm would be able to assemble its management team and draw up a specific development plan for the park by July next year. “What that means is we are more than words and deliberation; we are going from work and deliberation to progressive action,” Lam said. Additional reporting by Jess Ma

AI ‘central plank’ in Hong Kong’s economic development, John Lee says

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}City leader says first five-year blueprint and coming policy address will drive AI-led growth

City leader says first five-year blueprint and coming policy address will drive AI-led growth