On November 24, 2024, Denise Tsang and Ambrose Li reported that Hong Kong is intensifying its efforts to enhance its technology sector by attracting global talent and innovative perspectives. Financial Secretary Paul Chan emphasized this goal following a dinner with Nvidia CEO Jensen Huang and other industry leaders, including HKUST president Nancy Ip and venture capitalist Neil Shen. During the event, Huang was awarded an honorary doctorate from HKUST for his leadership at Nvidia [fc8dab11].
This initiative is part of a broader strategy that includes the development of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. The project will be executed in two phases, with the first phase's gross floor area set to increase to 100 hectares. Operations are expected to commence next year, with the completion of this initial phase targeted for 2030. The hub aims to attract pharmaceutical and medical companies, thereby enhancing Hong Kong's status as a center for medical innovation [fc8dab11].
In conjunction with these developments, the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, which was previously reported on November 20, 2024, is designed to facilitate the cross-border flow of talent, capital, and data between Hong Kong and Shenzhen. Secretary for Innovation and Technology Sun Dong outlined that this initiative will significantly bolster the region's innovation and technology landscape, positioning it as a global leader by 2035 [a9c62c77].
The GBA's economic significance was further highlighted in a report by Cannix Yau on November 12, 2024, noting that the GBA achieved a GDP of 14 trillion yuan in 2023, surpassing that of South Korea and Australia. This growth underscores the importance of Hong Kong's collaboration with the GBA to support the global expansion of regional enterprises [1c764f0d].
Moreover, the signing of a Memorandum of Understanding between InvestHK and San Francisco’s Bay Area Council aims to promote green economy cooperation, reflecting a commitment to sustainable finance initiatives within the GBA [c8c14208]. As Hong Kong continues to evolve as a tech hub, the integration of international expertise, such as that from Nvidia, is seen as crucial for fostering innovation and economic resilience in the region [fc8dab11].