Three Projects Endorsed for New Industrial Acceleration Scheme, HK$280 Million in Subsidies Expected
RTHK · 2 SOURCESabout 2 hours ago5 MIN
Summary
The Innovation and Technology Agency announced on September 3, 2026, that the New Industrial Assessment Committee has granted in-principle approval to three applications under the New Industrial Acceleration Scheme. These projects, covering life health technology and advanced manufacturing, represent a total investment exceeding HK$840 million with expected government matching subsidies of approximately HK$280 million. Secretary for Innovation, Technology and Industry Sun Dong (孫東) stated that these initiatives demonstrate the government's commitment to advancing Hong Kong's new industrialization and building a more robust industrial ecosystem for high-quality development.
Key Points
- Three projects spanning life health technology and advanced manufacturing receive in-principle endorsement from the New Industrial Assessment Committee
- Hua Yao International Limited plans to establish a health product production line with total investment exceeding HK$240 million and expected subsidy of HK$80 million
- Hong Kong Xinguo International Technology Limited will build semiconductor memory module and storage device production facilities with investment over HK$210 million and subsidy around HK$70 million
- Hong Kong Intelligent Construction Industrial Park Limited proposes to develop steel bar prefabrication and electromechanical equipment synthesis processing facilities with investment approaching HK$390 million and subsidy of HK$130 million
- Secretary Sun Dong emphasized the government's multi-pronged approach to fostering a vibrant industrial ecosystem and creating new space for high-quality development
Why It Matters
These approved projects mark a significant step toward diversifying Hong Kong's economy beyond traditional financial and real estate sectors, positioning the city as a regional hub for advanced manufacturing and biotechnology. The substantial government subsidies demonstrate policy support for industrial transformation, potentially attracting more technology-oriented investments to Hong Kong .
These approved projects mark a significant step toward diversifying Hong Kong's economy beyond traditional financial and real estate sectors, positioning the city as a regional hub for advanced manufacturing and biotechnology. The substantial government subsidies demonstrate policy support for industrial transformation, potentially attracting more technology-oriented investments to Hong Kong .