Sun Dong: The Hong Kong Government is fully advancing the “AI+” campaign and will inject HK$1 billion into the AI funding scheme

The Zhitong Finance App learned that on October 8, the Secretary for Innovation, Technology and Industry of Hong Kong, Professor Sun Dong, said during a joint debate on the bill on the “Hong Kong First Five-Year Plan” and the 2026 “Policy Address” thank-you bill (Section 2) that in terms of artificial intelligence (AI), the Hong Kong Government is responding to the “Hong Kong First Five-Year Plan” to comprehensively promote the “AI+” initiative. Among them, construction of the Shaling Data Park has begun, and the first phase of operation will be put into operation as soon as mid-next year; the Hong Kong Government will also inject HK$1 billion into the “Artificial Intelligence Funding Scheme” to support breakthroughs in cutting-edge research and innovation; and further optimize data center operations and computing power layout in the direction of “efficient computing power, stable electricity, and low-carbon transformation.”

In addition, the Digital Policy Office will set up AI commissioners to help advance the AI risk management strategy in the “Policy Address” and take the lead in three projects, including selecting pilot departments to require public AI service project bidders to make AI safety and ethical compliance declarations; promoting institutions to develop AI application guidelines, certification and governance frameworks; and issuing AI agent safety management guidelines with the Hong Kong Artificial Intelligence Research and Development Institute.

He added that in terms of research infrastructure, Hong Kong will consolidate, upgrade and give full play to the “dual base” advantages of national key laboratories and InnoHK's innovative Hong Kong R&D platform. Based on this, this year's “Policy Address” specifically proposed the establishment of a “Frontier Technology Task Force” to strengthen Hong Kong's position in cutting-edge technology. At the same time, Hong Kong will launch a new round of calls for special aerospace science and technology projects to support national space missions and speed up the integration of key national science and technology strategies.

The “Hong Kong First Five-Year Plan” also encourages enterprises to give full play to their main role in innovation and increase investment in R&D. In addition to continuing to provide additional funding to technology transfer offices of designated universities and supporting the implementation of results through the “University Technology Startup Funding Program” and the “Industry-University-Research 1+ Program”, Hong Kong also fully supports the Hong Kong Science and Technology Parks Corporation in researching and establishing the “Hong Kong Innovation and Technology Application Scenario Promotion Center” to accurately match application scenario requirements with innovative technology solutions.

Sun Dong explained that the Hong Kong government has been working hard to establish a new industrial development system with Hong Kong characteristics. The “Hong Kong First Five-Year Plan” proposes four major industrial development directions, including promoting the upgrading and transformation of traditional industries using innovation and technology, developing and expanding emerging industries with strategic value, laying out future industries, and better developing productive services. The Policy Address also effectively responds to work in this direction. The “Hong Kong New Industrialization Medium- and Long-Term Development Plan” will be announced within this year, and the results of the first batch of “New Industrial Elite Enterprise Cultivation Plans” have just been announced. In terms of funding, it is expected that the HK$10 billion “Innovation and Technology Industry Guidance Fund” will be officially launched within this year, and an additional HK$1 billion will be set aside for the “Innovation and Technology Venture Capital Fund” optimization plan.

Regarding deepening the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, Sun Dong said that Hong Kong will discuss a specific action plan with Guangdong Province to promote new industrialization and sign a memorandum of cooperation with Shenzhen to achieve “cooperative R&D, collaborative transformation, and shared development”, promote the establishment of an industrial innovation platform, and establish a collaborative mechanism and model for emerging and future industrial chains. Hong Kong will also continue to promote the “Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong) Standard Contract for Cross-border Movement of Personal Information” to facilitate cross-border data flows.