Hong Kong bets big on innovation, AI and finance in line with national goals

South China Morning Post

by Denise Tsang

February 25, 2026

AI-Generated Deep Dive Summary

Hong Kong bets big on innovation, AI and finance in line with national goals

Hong Kong is making significant strides in aligning its economic future with national development goals by focusing on innovation, artificial intelligence (AI), and strengthening its position as an international financial hub. Financial Secretary Paul Chan Mo-po announced a budget allocation of up to HK$150 billion to support the Northern Metropolis megaproject and the San Tin Technopole, which are central to Hong Kong's innovation and technology strategy. These initiatives aim to attract businesses and drive infrastructure development. As part of this economic transformation, Hong Kong is launching an AI+ strategy to lead industrial reforms. A specially formed committee, with Chan at its helm, will spearhead efforts to integrate AI across various sectors, including banking, while promoting AI literacy throughout society. Additionally, the city is introducing incentives to boost offshore yuan and gold trading, reinforcing its status as a global financial center amid geopolitical tensions and economic uncertainties. Chan emphasized that while mainland China's focus on technology and AI presents both opportunities and challenges, Hong Kong has historically thrived through adaptability and innovation. Despite ongoing economic shifts, the region remains committed to steady progress and is recalibrating its course to ensure long-term advancement. This strategic focus on innovation and AI underscores Hong Kong's determination to remain a global leader in tech and finance. By aligning with national priorities and leveraging its unique position as a financial hub, Hong Kong aims to bolster its resilience and competitiveness in an evolving global landscape. This approach not only benefits Hong Kong but also reinforces its role as a key player in Asia's economic development and the future of global finance.

Verticals

worldasia

Originally published on South China Morning Post on 2/25/2026