Hong Kong's Office for Attracting Strategic Enterprises (OASES) recently held a signing ceremony for its seventh batch of strategic enterprises, welcoming 18 companies—half from the mainland and half from overseas—to officially establish operations in Hong Kong. These companies span frontier sectors including AI and data science, fintech, advanced manufacturing, new energy, life and health, and cultural and creative technology, with several already valued at or above HK$100 billion.

The AI companies signing on cited Hong Kong's well-regulated business environment, concentration of international research talent, and ability to connect with Greater Bay Area industrial chains and global markets.

In 2022, Chief Executive John Lee's Policy Address first positioned "attracting enterprises" as a key strategy for boosting Hong Kong's competitiveness and pursuing industrial diversification. An enterprise's arrival typically brings upstream and downstream partners, research talent, and supporting service providers, creating a virtuous cycle where "enterprises attract enterprises and talent draws talent," followed by funds and investors.

To date, Hong Kong has attracted 142 strategic enterprises, generating approximately HK$84 billion in investment and nearly 27,000 jobs. This unprecedented industrial shift is reshaping Hong Kong's economic structure and building a city with greater depth in innovation and technology.