Hong Kong Chief Executive John Lee outlined the government's innovation and technology strategy during an address at the Joint Business Community Luncheon on November 11, 2026. The technology priorities were presented as part of Hong Kong's broader First Five-Year Plan, which also spans finance, shipping, trade, and talent development.
Key directions for innovation and technology
Lee stated that technology, led by artificial intelligence, is reshaping companies, economies, and global competition. To address these shifts, Hong Kong's First Five-Year Plan outlines six main directions for innovation and technology (I&T) alongside broader economic pillars.
The six directions include improving the institutional framework for I&T development, advancing new industrialisation, expediting I&T industry development, and developing an international hub for science and technology co-operation. The government also plans to deepen development of the Greater Bay Area and adopt a holistic approach to development and security, according to Lee.
Research initiatives and technology infrastructure
As part of improving the institutional framework, the Innovation and Technology Commission will launch a new round of Special Call on Aerospace Technology. Lee said the initiative will emphasise technology research related to national space missions, covering satellite technology, space exploration instruments, aerospace materials, and other related areas.
The plan also prioritises developing three major I&T parks: Cyberport, Science Park, and the Hong Kong Park in the Hetao co-operation zone and San Tin Technopole. In addition, the plan targets five key R&D institutions covering productivity, applied science, microelectronics, artificial intelligence, and life and health technology.
Lee announced that Hong Kong will work toward establishing its first national manufacturing innovation centre. Furthermore, the United Nations Industrial Development Organization selected Hong Kong to launch its first centre of excellence on global advanced manufacturing in the Asia-Pacific region, which Lee said is expected to begin operation in the first half of next year.
Financing and regional expansion
Under the plan's financial pillar, Lee highlighted a "Finance + Technological Innovation" initiative to support tech development. The government plans to encourage patient capital and venture capital investments in industry and technological innovations, while expanding financing services for I&T enterprises through accelerated fintech development.
Lee reported that during visits to Beijing and Shanghai, he encouraged strategic Mainland enterprises to consider the Northern Metropolis and its planned research institutions, pointing to opportunities in three planned university towns. Lee also noted that several universities expressed interest in establishing a presence in Hong Kong following the World Class University Presidents Forum.
Key facts and where they come from
- The Innovation and Technology Commission will launch a new round of Special Call on Aerospace Technology focused on national space mission research.
The Innovation and Technology Commission will launch a new round of Special Call on Aerospace Technology. It will emphasise technology research related to national space missions
- Hong Kong's First Five-Year Plan targets three major I&T parks and five key R&D institutions.
The three parks are Cyberport, Science Park, and the Hong Kong Park in the Hetao co-operation zone and San Tin Technopole.
- The United Nations Industrial Development Organization selected Hong Kong for an advanced manufacturing centre of excellence scheduled to open in the first half of next year.
The United Nations Industrial Development Organization has chosen Hong Kong to launch its first centre of excellence on global advanced manufacturing in the Asia-Pacific region.
- The Hong Kong government intends to expand financing services for I&T enterprises through accelerated fintech development.
We will support the expansion of financing services for I&T enterprises through the acceleration of fintech development.
