Hong Kong's Secretary for Innovation, Technology and Industry, Professor Sun Dong, stated on June 3 that the national 15th Five-Year Plan explicitly calls for building a modern industrial system and accelerating the development of a space power. With strong national support, the participation of the first Hong Kong payload specialist in the Shenzhou-23 manned spaceflight mission fully demonstrates the country's high regard for Hong Kong's innovation and technology talent, development, and achievements, further reflecting the nation's significant emphasis and supportive care for Hong Kong's technological advancement.
Hong Kong's transition from a supporter to an active participant in the nation's grand aerospace endeavors not only highlights the potential contributions Hong Kong can make to the country's space power construction but also represents the best practice for Hong Kong to better integrate into and serve the overall national development strategy.
Professor Sun Dong pointed out that the Hong Kong Special Administrative Region possesses robust scientific research capabilities. Various research institutions and universities have actively engaged in aerospace research projects, including providing systems, instruments, and technical support for national lunar and Mars exploration missions, as well as conducting space-based experiments, making positive contributions to the national aerospace program.
In the future, as China's aerospace technology sector expands internationally, Hong Kong can play a unique role in furthering international exchanges and cooperation, leveraging its strengths to meet national needs.
In promoting aerospace technology development, the Hong Kong government has a clear strategy. Talent is a key element driving innovation and technology. The government will adhere to the development principle of using talent to propel technology, technology to lead industry, and industry to attract talent. Under the "one country, two systems" framework, Hong Kong enjoys the distinct advantages of being backed by the motherland and connected to the world, with five universities ranked among the global top 100, providing strong momentum for cultivating and gathering innovation and technology talent.
The Innovation, Technology and Industry Bureau and the Innovation and Technology Department have been employing multiple approaches to strengthen the local research and innovation talent pool, supporting enterprises and research institutions in nurturing tech talent and fostering innovation and technology development.
Specific measures include funding undergraduates and postgraduates enrolled in full-time STEM-related courses for short-term internships through the Innovation and Technology Internship Programme; subsidizing companies or institutions conducting R&D activities in Hong Kong to hire research talent for R&D work through the Research Talent Hub; and supporting local enterprises in providing their employees with high-end technology training on a 1:1 matching basis through the New Industrialisation and Technology Training Programme.
Furthermore, the Hong Kong Centre for Robotics and Energy in Space has been established under the InnoHK innovation platform, actively participating in national aerospace missions. The Innovation and Technology Department also launched a special call under the Innovation and Technology Support Programme in July 2024, investing over HK$100 million to fund six R&D projects related to aerospace technology, including the Tianyun camera, a greenhouse gas detector developed by the Hong Kong University of Science and Technology, which was recently delivered to the Tiangong space station.
Regarding industrial development, existing government policies and measures promoting new industrialization are applicable to the aerospace sector. For example, the New Industrialisation Funding Scheme supports enterprises in establishing new smart production lines in Hong Kong through matching grants; the New Industrialisation Acceleration Scheme provides matching grants to enterprises in strategic industries for setting up new smart production facilities in Hong Kong; and the Innovation and Technology Industry-led Fund is also planned to launch within the year to guide more market capital towards strategic emerging and future industries, systematically building an innovation and technology industry ecosystem.
In summary, the Hong Kong government will continue to leverage Hong Kong's unique role in the national aerospace program by enhancing research capabilities, talent cultivation mechanisms, and industrial support measures.
Regarding financing, the Financial Services and the Treasury Bureau has consistently aimed to build a vibrant and sustainable financing platform in Hong Kong. As a major global listing platform for companies from various jurisdictions and Asia's second-largest private equity fund management centre after the mainland, the Bureau actively promotes the Securities and Futures Commission and Hong Kong Exchanges and Clearing Limited (HKEX) to explore avenues for broadening corporate financing channels, closely following international trends, and continuously optimizing Hong Kong's listing regime to facilitate listings by enterprises from different industries.
Simultaneously, driven by the Hong Kong government's active efforts, Hong Kong has consistently been an international bond issuance hub within Asia. In fact, Hong Kong's bond market has flourished in recent years, with issuance scale gradually increasing and issuers becoming more diverse. Many large technology enterprises have issued bonds in Hong Kong in recent years.
The aerospace industry has developed rapidly in recent years, expanding beyond national strategic development to commercial levels. Regarding the listing platform, HKEX introduced Chapter 18C in March 2023, providing a listing pathway for early-stage specialized technology companies. According to HKEX guidance, Chapter 18C includes a wide range of commercial aerospace activities within the acceptable fields for specialized technology industries, encompassing aerospace technology, advanced communication technology, and advanced transportation technology.
Aerospace industry applicants can apply for listing under Chapter 18C and benefit from the dedicated channel for technology companies. To align with the rapid development of related industries, HKEX has initiated a review to examine and optimize the existing listing mechanism to meet the financing needs of the aerospace industry's growth. HKEX will announce specific measures and provide further guidance in due course.
Additionally, Hong Kong Investment Corporation Limited is actively exploring investment directions related to commercial aerospace and the space economy. By linking capital, technology, talent, and application scenarios, it aims to connect promising aerospace enterprises with Hong Kong's international financial centre advantages, including diverse financing channels, high-end talent, and the common law system, assisting relevant enterprises in accelerating technology commercialization and market deployment.
Regarding human resource demand assessment, the Hong Kong SAR Government regularly conducts macro-level manpower projections to evaluate future trends in Hong Kong's manpower supply and demand, providing a reference for planning medium-term manpower strategies. The Labour and Welfare Bureau is currently conducting a mid-term update of the manpower projection, assessing manpower supply and demand trends in Hong Kong from 2025 to 2028 at a macro level.
This projection covers 17 different key industries, including the international innovation and technology centre. The development of various high-tech fields and related research activities are all encompassed within the overall manpower demand assessment for the international innovation and technology centre.
Currently, industry consultation and data analysis for the mid-term update of the manpower projection are largely complete, with final data consolidation underway. The Labour and Welfare Bureau expects to announce the projection results in the fourth quarter of 2026.
As for specific sub-item data analysis, preliminary feedback from industry consultation indicates that manpower demand related to aerospace technology currently constitutes a relatively small proportion within the entire international innovation and technology centre. Therefore, this mid-term update of the manpower projection does not include an independent quantitative assessment for aerospace technology.
The Hong Kong government will continue to closely monitor the development trends of Hong Kong's innovation and technology sector. If necessary, more targeted sub-item assessments for specific technology areas can be considered in future manpower projections to ensure manpower supply aligns with industrial and national development needs.
Regarding talent cultivation, the Education Bureau stated that the Hong Kong government consistently encourages University Grants Committee-funded universities to offer courses that meet Hong Kong's development needs, strengthening the talent pool in key areas such as innovation and technology to enhance Hong Kong's competitiveness. The 2022 Policy Address set a target that by the 2026/27 academic year, 35% of students in UGC-funded universities will be enrolled in STEAM disciplines, and 60% will be studying subjects related to the eight centres under the national 14th Five-Year Plan where Hong Kong is positioned for development.
In the 2025-28 triennium, the eight UGC-funded universities will collectively introduce 27 new undergraduate degree programmes related to STEAM and the eight centres, covering emerging fields that have developed rapidly in recent years and are popular among young people, such as aerospace technology. This not only consolidates Hong Kong's development in innovation, technology, and the eight centres but also creates opportunities for young people to leverage their strengths, promoting a more diversified society and economy.
The UGC provides recurrent grants in block grant form to the eight UGC-funded universities, typically on a three-year funding cycle, enabling universities to offer courses and allocate places across different disciplines. Currently, four UGC-funded universities in Hong Kong offer undergraduate courses providing aerospace knowledge training, namely City University of Hong Kong, The Chinese University of Hong Kong, The Hong Kong Polytechnic University, and The Hong Kong University of Science and Technology. PolyU also offers postgraduate programmes. These courses can cultivate talent in aeronautical engineering for Hong Kong and the nation.
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