New firms with up to HK$100 billion market capitalisation to set up shop in Hong Kong

Hong Kong is set to announce on Monday a new batch of “strategic enterprises” establishing a presence in the city, including several firms with market capitalisations of up to HK$100 billion (US$12.8 billion), the finance chief has revealed.

Writing in his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said the new partners were in high-growth sectors, including life and health technology, the low-altitude economy, artificial intelligence (AI), new energy materials and fintech.

“Those life and health technology companies have been regarded as world leaders in their fields. They will conduct clinical research in Hong Kong, further bolstering Hong Kong’s position in the field of international medical research and development,” he wrote.

The names of these companies establishing or expanding their operations in Hong Kong are expected to be revealed by the Office for Attracting Strategic Enterprises (OASES) on Monday.

Chan said that beyond research, some “strategic enterprises” planned to establish research and development centres, treasury centres and regional headquarters in the city.

He said the moves would reinforce Hong Kong’s role as a “superconnector” between mainland China and international markets, while fostering a more “vibrant” local innovation and technology ecosystem.