Hong Kong’s Tech Push Draws In 22 More Firms
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The Hong Kong government has signed agreements with 22 additional companies, including U.S. pharmaceutical giant Pfizer Inc. and Chinese processor-maker Hygon Information Technology Co. Ltd. (688041.SH), to establish or expand operations in the city.
The Office for Attracting Strategic Enterprises hosted a signing ceremony on Monday to welcome the companies, which feature several firms with market capitalizations exceeding HK$100 billion ($12.8 billion) and span cutting-edge sectors such as artificial intelligence, financial technology, life and health technology, smart mobility and the low-altitude economy.
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- Hong Kong signed agreements with 22 companies, including Pfizer and Hygon (688041.SH), to establish/expand operations.
- Firms in AI, fintech, life/health tech, smart mobility, low-altitude economy; some exceed HK$100B market cap.
- Over 120 strategic enterprises attracted, projecting HK$73B investment and 25,000 jobs.
- Pfizer Inc.
- Pfizer Inc., a U.S. pharmaceutical giant, signed an agreement with the Hong Kong government to establish or expand operations in the city, as part of 22 companies welcomed in a ceremony hosted by the Office for Attracting Strategic Enterprises.
- Hygon Information Technology Co. Ltd.
- Hygon Information Technology Co. Ltd. (688041.SH), a Shanghai-listed Chinese chipmaker and processor-maker, signed an agreement to establish or expand operations in Hong Kong. It cited the city's digital infrastructure and innovation ecosystem as key drivers. VP Wu Zongyou said it plans advanced tech solutions for local needs and partners' overseas expansion.
- AutoFlight
- AutoFlight, an eVTOL aircraft developer backed by CATL's 2024 investment, signed an agreement to expand in Hong Kong. Its fully electric aircraft feature lower noise and maintenance costs than helicopters, targeting logistics, emergency rescue, and urban air mobility. Senior VP Xie Jia noted Hong Kong's aviation standards will demonstrate capabilities to overseas clients.
- Contemporary Amperex Technology Co. Ltd.
- Contemporary Amperex Technology Co. Ltd., a Chinese battery-maker, made a strategic investment in 2024 to eVTOL aircraft developer AutoFlight, which is expanding in Hong Kong.
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