Driving "New Quality Productive Forces" Through Innovation: Achieving High-Quality Development for Hong Kong

Chief Executive John Lee attended the "2026 Tech + New Quality Productive Forces Summit" yesterday, where he delivered a keynote speech elucidating the strategic logic and policy direction for Hong Kong’s innovation and technology (I&T) sector. He emphasized that developing I&T and leading the growth of "new quality productive forces" is a "must-answer question" for Hong Kong. This statement serves as a clarion call for the city’s technological advancement and outlines a roadmap for the SAR Government to leverage its unique advantages and develop new quality productive forces tailored to local conditions. All sectors of Hong Kong must unite to translate this blueprint into collective action, accelerating the development of an international I&T hub to better align with national strategies and serve the country’s modernization.

Why is the development of I&T considered a "must-answer question"? First, it is determined by Hong Kong’s new role and positioning within the overall national development framework. The National 15th Five-Year Plan explicitly calls for the deep integration of technological and industrial innovation, the development of new quality productive forces tailored to local conditions, and continued support for Hong Kong’s rise as an international I&T hub. Hong Kong has also released its own first five-year plan, designating the Northern Metropolis as the primary engine for I&T, accelerating the growth of strategic emerging industries, and building a diversified industrial system with Hong Kong characteristics. Aligning with the National 15th Five-Year Plan and serving the national innovation strategy is both a political responsibility and a source of pride for Hong Kong. Only by taking the initiative and seizing the momentum can Hong Kong transform national opportunities into tangible developmental results.

Second, the development of I&T is essential for Hong Kong to continuously enhance its international competitiveness. The global technological tide is surging, with breakthroughs in Artificial Intelligence (AI) and life sciences occurring daily. Neighboring cities in the Greater Bay Area, such as Guangzhou and Shenzhen, are advancing rapidly, with innovation resources clustering at an unprecedented pace. Surrounding nations are also formulating innovation strategies to secure their positions in the I&T landscape. Technological innovation is like sailing against the current; failing to advance means falling behind. If Hong Kong remains complacent or hesitant, it will inevitably lose ground in the face of fierce international competition.

Furthermore, leading the development of new quality productive forces through I&T is an internal necessity for Hong Kong to resolve its deep-seated structural contradictions. For a long time, Hong Kong’s industrial structure has been overly narrow, relying heavily on finance and real estate. Despite the world-class foundational research capabilities of its universities, a persistent structural pain point remains: the disconnect between midstream and downstream commercialization. A significant number of research achievements "blossom within the city but bear fruit elsewhere." These deep-seated issues have become bottlenecks restricting Hong Kong’s high-quality development. The development of new quality productive forces is the exact prescription for these ailments: utilizing technological innovation to spawn new industries and momentum, thereby driving industrial transformation and upgrading. This is the only path toward high-quality development.

The answer to this "must-answer question" lies within the 15th Five-Year Plan and national strategic deployments. The CPC Central Committee and the State Council recently issued "Opinions on Developing New Quality Productive Forces," proposing guiding principles of "innovation-led, reform-oriented, tailoring measures to local conditions, and establishing the new before breaking the old." These principles hold significant guidance for Hong Kong’s I&T development.

Given the constraints of land and labor costs, Hong Kong cannot be "all things to all people" in developing new quality productive forces. Instead, it must focus on its strengths and prioritize key areas. Under "One Country, Two Systems," Hong Kong possesses unique advantages, including its common law system, a free and open market, and a strong capacity to aggregate international capital. It acts as a magnet for global "patient capital" and top-tier talent. Hong Kong must utilize the R&D prowess of its top universities to strengthen research in frontier fields such as AI, life and health technology, and new energy. By achieving breakthroughs in key areas, Hong Kong can drive an overall leap in the development of new quality productive forces.

Furthermore, it is essential to foster synergy and create a robust innovation ecosystem. With the Northern Metropolis as a primary lever—specifically focusing on the San Tin Technopolis and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone—Hong Kong can integrate the Mainland’s vast market and complete industrial chains to bridge the entire innovation cycle. Concurrently, the city should develop "new industrialization" tailored to its local realities, precisely positioning itself in new strategic sectors and helping outstanding tech enterprises and research achievements from both the Mainland and Hong Kong go global.

The key to answering this "question of the era" lies in execution. The first five-year plan has drawn a clear blueprint for Hong Kong’s I&T development. With the SAR Government’s proactive governance and commitment, Hong Kong will surely unite the "government, industry, academia, research, and investment" sectors. By aggregating global innovation resources and transforming technological achievements into new drivers for industrial and economic growth, Hong Kong will contribute an irreplaceable force to the nation’s journey toward strength and rejuvenation.