Sun Dong: Government to Use Market Forces to Accelerate New Territories Technology City Land Development
On.cc · 3 SOURCES1 day ago3 MIN
Summary
Innovation, Technology and Industries Bureau Commissioner Sun Dong announced on Sunday that the government will leverage market forces to accelerate first-tier land development at the New Territories Technology City, including land formation and infrastructure works. The announcement comes as the government negotiates with several large enterprises for early industry placement. Sun expects 2-3 hectares of land to be released by the end of this year or early next year. This initiative supports Hong Kong's first Five-Year Plan, which targets producing 900 hectares of developed land in the Northern Metropolis over five years, with 400 hectares designated for industrial use.
Key Points
- Of the 400 hectares of industrial land in the Northern Metropolis, approximately 100 hectares are reserved for the New Territories Technology City
- Most land was originally scheduled for production after 2030, but the government is negotiating with several large enterprises for early industry placement
- Sun Dong made the announcement during a radio programme on September 27, 2026, stating the government will work with the Development Bureau to "seize time and accelerate"
- For the Hetao Hong Kong Park, two of the first three laboratory buildings have achieved 100% occupancy, while Building 1 has reached 80% occupancy
- The United Nations Industrial Development Organization will establish its Asia-Pacific's first Global Advanced Manufacturing Excellence Centre in Building 1, with operations expected to begin in the second quarter of next year
- The government has clear requirements for tenant enterprises regarding GDP contribution and job creation, with 70% of bid evaluation criteria based on GDP contribution, local employment, R&D talent introduction, and technology leadership
- A HK$10 billion Innovation and Technology Industry Guiding Fund will be launched before year-end, aiming to attract HK$30 billion in industry investment for a total fund size of HK$40 billion
- Sun acknowledged there may be some business overlap between different parks in the Northern Metropolis but viewed "moderate, reasonable competition as not a bad thing"
Why It Matters
The acceleration of the New Territories Technology City development signals the government's commitment to positioning Hong Kong as a regional innovation hub, with the target of new industries accounting for 5.5% of local GDP by 2030 . The emphasis on market-driven approaches and clear enterprise evaluation criteria suggests a strategic shift toward quality over speed in attracting high-value industries to the Northern Metropolis .
The acceleration of the New Territories Technology City development signals the government's commitment to positioning Hong Kong as a regional innovation hub, with the target of new industries accounting for 5.5% of local GDP by 2030 . The emphasis on market-driven approaches and clear enterprise evaluation criteria suggests a strategic shift toward quality over speed in attracting high-value industries to the Northern Metropolis .