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Hong Kong Unveils 'Dual-Engine' Tech Strategy for Growth

1/22/2026

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Summary

Story summary

John Lee Ka-chiu, Hong Kong's Chief Executive, announced plans to accelerate innovation and technology development, unveiling a "dual-engine" strategy with the finance sector to move lab work to market at the Hong Kong Academy of Sciences' 10th anniversary ceremony.
R&D expenditure rose from HK$16 billion in 2014 to HK$36 billion in 2024.
The sector's workforce grew 70% to 59,000.
Hong Kong has 20 unicorns and about 4,700 start-ups.

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Story summary

John Lee Ka-chiu, Hong Kong's Chief Executive, announced plans to accelerate innovation and technology development, unveiling a "dual-engine" strategy with the finance sector to move lab work to market at the Hong Kong Academy of Sciences' 10th anniversary ceremony.
R&D expenditure rose from HK$16 billion in 2014 to HK$36 billion in 2024.
The sector's workforce grew 70% to 59,000.
Hong Kong has 20 unicorns and about 4,700 start-ups.