Hong Kong Welcomes 17 New Strategic Enterprises, Promising $42 Billion Investment and 17,000 Jobs

Speech by FS at OASES Partnership Signing Ceremony (with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the OASES Partnership Signing Ceremony today (November 11):

Representatives of our valued strategic enterprise partners, distinguished guests, ladies and gentlemen,

Good afternoon. It is my pleasure to welcome you all today to this partnership signing ceremony commissioned by the Office for Attracting Strategic Enterprises.

This ceremony marks another step forward in realising our vision to become an international innovation and technology centre. Today, we celebrate the arrival of a new batch of 17 strategic enterprise partners. Together with the first two batches of partners, more than $42 billion of investments will be made and over 17 000 jobs created in this city in the coming few years.

It is particularly heartening to note that about 90 per cent of this new batch of enterprises are planning to set up their international or regional headquarters here in Hong Kong.

The partnership that we have been building with our strategic enterprises is indeed a symbiotic one. On the one hand, by leveraging our unique advantages under the "one country, two systems" arrangement, our status as an international financial centre, together with world-class universities and research institutions, top-notch professional services, and a highly skilled talent pool, Hong Kong will be the ideal springboard for strategic enterprises to grow and thrive, and to expand their reach in the region and beyond. On the other hand, their presence - your presence - together with the upstream, midstream or downstream partners you bring to work with us, enriches Hong Kong's innovation and technology ecosystem.

And we are seeing good progress of this strategic partnership. Over 90 per cent of the enterprises from our previous two batches have already commenced their operations in Hong Kong. Nearly 70 per cent of them have chosen to set up their operations at the Science Park or Cyberport, underlining the strong and ever-growing collaboration with our two innovation flagships.

Ladies and gentlemen, the Hong Kong SAR Government is committed to fast-tracking the development of our innovation and technology sector. The Chief Executive's latest Policy Address has outlined a number of measures to increase our investments in emerging industries such as AI, biotech and new energy; advance our strategic infrastructure such as the Northern Metropolis; and strengthen our collaboration with sister cities in the Greater Bay Area. I'm sure these initiatives will benefit our strategic enterprises, and bolster our city's position as an attractive destination for more enterprises.

To all strategic enterprise partners here, I want to take this opportunity to thank you for choosing Hong Kong. Your decision is a resounding vote of confidence in the tremendous opportunities this city offers. My appreciation also goes to colleagues in OASES, InvestHK, the Innovation, Technology and Industry Bureau, and other government departments for all your efforts in assisting our strategic enterprises to settle into Hong Kong.

Finally, let me take this opportunity to officially welcome our new Director-General of OASES, Mr Peter Yan, who has joined us recently. I look forward to the ongoing brilliance of the work of OASES under your leadership.

I wish you all an enjoyable afternoon and every success in your business endeavours in the years to come. Thank you very much.

Speech by FS at OASES Partnership Signing Ceremony Source: HKSAR Government Press Releases

Speech by FS at OASES Partnership Signing Ceremony Source: HKSAR Government Press Releases

Speech by FS at OASES Partnership Signing Ceremony Source: HKSAR Government Press Releases

Speech by FS at OASES Partnership Signing Ceremony Source: HKSAR Government Press Releases

HKSARG responds to reauthorization of the so-called Sanctions Provisions under HKHRDA incorporated in National Defense Authorization Act for Fiscal Year 2025

​The Hong Kong Special Administrative Region (HKSAR) Government today (December 26) strongly disapproves of and firmly rejects US' reauthorization of the so-called Sanctions Provisions under the Hong Kong Human Rights and Democracy Act (HKHRDA) incorporated in National Defense Authorization Act for Fiscal Year 2025.

A spokesman for the Government said, "In accordance with international law and international practice based on the Charter of the United Nations, it is each and every sovereign state's inherent right to enact laws safeguarding national security, and it is also an international practice. With at least 21 pieces of laws safeguarding national security, the US has exposed its double standards by pointing the finger at the HKSAR's legal system and enforcement mechanism to safeguard national security."

"The Hong Kong National Security Law (NSL) and the Safeguarding National Security Ordinance (SNSO) also clearly stipulate that human rights shall be respected and protected in safeguarding national security in the HKSAR. The offences endangering national security stipulated by the related Ordinance target acts endangering national security with precision, and define the elements and penalties of the offences with clarity, aiming at addressing, combating, deterring and preventing acts and activities of endangering national security. It targets only an extremely small minority of people without affecting the basic rights and freedoms lawfully enjoyed by Hong Kong residents."

He said, "The US openly clamour for so-called 'sanctions' with an aim to intimidate HKSAR officials who resolutely safeguard national security. The HKSAR Government strongly condemns its political grandstanding rife with ill intentions, which have been seen through by all. The HKSAR despises the so-called 'sanctions' and will not be intimidated by such a despicable behaviour. The HKSAR will resolutely continue to discharge the duty of safeguarding national security."

The HKSAR Government has been enforcing the sanctions imposed by the United Nations Security Council (UNSC) fully and vigorously to fulfil our international obligations. We have long been maintaining an effective mechanism for implementing the resolutions of the UNSC. That includes denying entry of vessels designated by the UNSC as well as suspicious vessels, keeping a close watch on and inspecting suspicious Hong Kong-based companies to prevent them from participating in activities evading UNSC sanctions. At the same time, the HKSAR Government has been implementing a comprehensive and robust control regime over the import and export of strategic commodities and maintaining active participation in the Chemical Weapons Convention and the Arms Trade Treaty through the Central People's Government. The effectiveness of our work has been well respected and recognised by our trading partners and internationally.

The US has substantial economic interest in Hong Kong. Over the past decade, it registered a trade surplus of about US$270 billion with Hong Kong. Currently, some 1 390 US companies operate in Hong Kong. If the US insists on its acts, it will ultimately undermine the mutually beneficial relations between Hong Kong and the US, harming the interests of the US and its companies.

The spokesman reiterated that foreign governments and legislatures should not interfere in any form in the internal affairs of the HKSAR.