Hong Kong boasts record highs in both the number of startups locally and the size of their employees in 2024, showed the latest official statistics.
The number of startups in the Hong Kong Special Administrative Region (HKSAR) hit 4,694 in 2024, up 10 percent year on year and approximately 40 percent more than that in 2020, the HKSAR government has announced.
In 2024, the combined workforce of these startups was nearing 18,000, up 7 percent year on year and an increase of around 65 percent over 2020.
According to Invest Hong Kong (InvestHK) data, the sectors with the largest increases included "health and medical" as well as "sustainable and green technology," underscoring the effectiveness of the government's investments in innovation and green energy.
Hong Kong records historic high number of startups
The high-speed railway connecting east China's Hangzhou City of Zhejiang Province and Hong Kong was put into use on Sunday, cutting travel time between the two cities to below seven hours. Departing from Hangzhou West Station at 15:10 BJT, the G99 train passes six stations before arriving at 21:56 BJT at West Kowloon Station in Hong Kong. Passengers only need to scan their Exit and Entry Permit at the station to finish cross-boundary inspection. "It takes just over six hours to arrive in Hong Kong, which is not that long. I have my Hong Kong-Macao Entry-Exit Permit, and all I need is to scan it on the machine over the counter," said Jin Siyu, a traveler taking the first train. To further facilitate travelers on the route, Hangzhou West Station now allows passengers to extend their Entry-Exit Permit with self-service machines.
"It takes around two to three minutes to finish (the extension) on this machine. But we can only provide extension services," said Chen Na, a staff member at the police station at Hangzhou West Station Hub, under the Yuhang District branch of Hangzhou City Public Security.
Railway connecting Hangzhou and Hong Kong begins operation
