OASES’ latest partner signing marks a strategic leap, but even greater synergy awaits
Hong Kong’s Office for Attracting Strategic Enterprises (OASES) recently welcomed 18 new partners on October 22, bringing the total to 142. These entities, spanning artificial intelligence, advanced manufacturing, and fintech, include several with market valuations over HK$100 billion. The initiative is projected to inject HK$84 billion into the local economy and create 27,000 high-value jobs, with earlier batches reportedly exceeding investment and job creation targets.
While initial enterprise batches reportedly outpaced targets for investments and job creation, the Hong Kong government acknowledges it must move beyond simply attracting capital to fully leverage the economic potential. New OASES partners are deploying real-time AI risk-scoring algorithms to predict patient deterioration and smart technologies to accelerate regional electric vehicle adoption, demonstrating tangible solutions.
To fully realize this potential, the administration plans to execute its "Finance+" strategy. This involves utilizing the city’s deep, internationally regulated capital markets to provide accessible financing avenues. The aim is to help these strategic enterprises seamlessly commercialize and scale their operations, fostering an interconnected pipeline from upstream research to industrial applications.
The Northern Metropolis development is intended as a key spatial and institutional engine for this ambition. By constructing three university towns within this mega-development, Hong Kong aims to physically co-locate academic research with industrial development and talent cultivation. This integration is designed to accelerate the journey from laboratory discoveries to market-ready solutions.
Maximizing the full potential of these 142 strategic enterprises also requires deeper cross-boundary synergy within the Greater Bay Area. The Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is highlighted as crucial for facilitating the frictionless flow of personnel, capital, biological samples, and research data, particularly for sectors like biomedicine.
