Blog
Synergistic development of “AI+” and “Finance+”
Over the past few days, my colleagues and I have been making use of various channels to brief the public in greater depth on the newly released Budget, including its key contents, measures and underlying considerations. The theme of this year’s Budget is “Driving High-quality, Inclusive Growth with Innovation and Finance”. At its core, the Budget responds to a period in which great changes unseen in a century are accelerating and geopolitical uncertainties are intensifying. The question we must answer is how Hong Kong can seize opportunities to leverage its unique advantages and inject fresh momentum into our future growth, thereby making development more resilient and inclusive.
A major focus of this Budget is to press ahead with the synergistic development of “AI+” and “Finance+”. We are now at a pivotal juncture in technological innovation. Artificial intelligence (AI) is not only a core technology for the future, but also a transformative force capable of reshaping every sector and industry. Accelerating “AI+” development is, in practice, about transforming and upgrading our industries with competitive edge and scaling up emerging ones. As an international financial centre, Hong Kong must deeply integrate cutting-edge AI technologies into its services. This will expand and strengthen our financial services while extending AI technologies into a wider range of application scenarios, with a view to achieving two-way empowerment and positive interaction. During this process, deep integration and rapid execution are of paramount importance.
|
| Further explaining the contents of the 2026–27 Budget at the press conference. |
|
| Press conference on the 2026–27 Budget. |
“AI+”
On the “AI+” front, we are pursuing a multi-pronged approach. Regarding the top-level design, I will establish and chair the Committee on AI+ and Industry Development Strategy, bringing together experts, academics and business representatives to formulate strategies for accelerating AI-powered growth across different industries, thereby serving as a catalytic force for industrial transformation.
We are also pressing ahead with the development of multiple industrial parks in the Northern Metropolis—including the Hong Kong Park of the Hetao Co-operation Zone, San Tin Technopole, and the Hung Shui Kiu Industrial Park—and accelerating the build-out of computing-power infrastructure at the Sandy Ridge data facility. These efforts will support R&D and application of frontier technologies such as AI as well as life and health technologies, while providing space for high-end manufacturing. Our overall objective is to attract more high value-added segments of the innovation and technology value chain—R&D, pilot production, commercialisation, and advanced manufacturing—to establish a presence in Hong Kong, thereby generating greater economic value and fostering higher-quality industries.
Talent development is equally critical to the success of “AI+”. We must closely align investment in infrastructure with investment in people. Accordingly, one Budget measure is to allocate $50 million to support public institutions, technology companies and tertiary institutions in organising activities to promote AI learning, application and responsible use by all, thereby raising the overall AI literacy across the community.
|
| Delivering the 2026–27 Budget Speech at the Legislative Council. |
|
| Participating in the joint television panel discussion programme “Budget Forum”. |
“Finance+”
When “AI+” converges with “Finance+”, the resultant synergistic effect will be enormous and far-reaching. This is not merely a simple addition of two forces, but rather a mutually reinforcing “flywheel effect”, as well as a development strategy that is tailored to local conditions and built on deep integration with one another. As the two forces keep driving each other forward, new values and opportunities will be created.
Several aspects of “Finance+” merit emphasis. First, finance provides a robust foundation for technological innovation and real-economy development. Hong Kong’s vibrant financial market and active capital ecosystem can offer end-to-end financing support—from venture capital and private equity through to initial public offerings (IPOs). Over the past year, Hong Kong’s stock market has performed strongly. Many leading Mainland technology enterprises are making full use of Hong Kong to raise international capital, accelerating their global expansion and strengthening overseas industrial and supply-chain networks.
Emerging and future industries highlighted in proposals for the National 15th Five-Year Plan will likewise require sustained capital support. In aerospace, for example, the Budget announces that the Office for Attracting Strategic Enterprises will take the lead in identifying suitable aerospace companies to develop in Hong Kong. HKEX will also review relevant listing requirements to facilitate and attract more aerospace companies to list in Hong Kong.
Second, innovation within financial services itself can help the real economy scale up, expand capacity and address pain points. Advances in AI, blockchain and other technologies are continuously enhancing financial services, enabling more efficient and convenient transaction systems and opening new channels for trade, fundraising, financing and risk management. Financial innovation will also create substantial opportunities for the industry, helping market participants explore new markets and develop new products.
Third, the development of technology services. Professional services tend to track closely fast-growing industries and economic activities. As AI drives industrial transformation and upgrading, and integrates deeply with finance, market demand for new professional services will spring up. Examples include valuation and risk assessment of technology assets and data assets, as well as related accounting, auditing, and certification services.
It is foreseeable that we will need enterprises that are more proficient in the application of AI, as well as financial and professional service providers that are more conversant in AI and innovation and technology. This will enrich Hong Kong’s role as an international financial centre, while enabling the combination of finance with technological and industrial innovation to support the building of our country’s modern industrial system.
Leveraging Hong Kong’s strengths in accordance with local conditions and proactively aligning with national development strategies are essential to achieving better development for our city. The two main themes of “AI+” and “Finance+” proposed in the Budget aim to help Hong Kong scale new heights in high-quality development in the course of accelerated economic transformation.
March 1, 2026
