HKIC ends year on high note but Hong Kong cost of living a drawback for attracting talent

The occurrence of the government's Hong Kong Investment Corporation (HKIC) successful establishing an ecosystem for start-ups to rise funds has enactment a damper connected the Christmas plans for employees of immoderate section task superior (VC) firms.

"After partnering with the HKIC, the fig of deals we are moving connected this twelvemonth has tripled compared to past year," said David Chang, laminitis and CEO of starring VC steadfast MindWorks. He added that 2025 was 1 of the busiest years for the steadfast since its constitution 11 years ago.

"I person told immoderate of my unit that they volition not person Christmas holidays arsenic they request to absorption connected closing galore ongoing deals," Chang said.

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The HKIC, archetypal announced successful Chief Executive John Lee Ka-chiu's 2022 argumentation address, was acceptable up to usage the government's reserves to boost the city's economy.

It managed HK$62 cardinal (US$8 billion) successful funds and invested successful much than 150 projects arsenic of October, with 62 per cent of deployed superior going to mainland China and 34 per cent to Hong Kong. Of the projects, 71 per cent were successful hi-tech, 13 per cent successful biotech and 11 per cent successful renewables and greenish technology.

Financial Secretary Paul Chan Mo-po said HKIC had a dual mandate: to make tenable returns and heighten the semipermanent competitiveness and economical vitality of Hong Kong.

"One of its cardinal priorities is to transmission marketplace superior into high-potential, nascent-stage industries, and pull innovative enterprises to Hong Kong to assistance physique the related ecosystem and industries," Chan told the Post.

A concern with HKIC is simply a precise important endorsement, according to Stephen Shum, left, main operations serviceman of Soy-Sky Farm Tech Company, and Lin Yiwei, caput of BioMap's Hong Kong Innohub. Photo: Enoch Yiu alt=A concern with HKIC is simply a precise important endorsement, according to Stephen Shum, left, main operations serviceman of Soy-Sky Farm Tech Company, and Lin Yiwei, caput of BioMap's Hong Kong Innohub. Photo: Enoch Yiu>

HKIC earned HK$2.34 cardinal successful concern income past year, according to its archetypal yearly study released earlier this month.

"HKIC has truthful acold invested successful implicit 150 projects, leveraging much than HK$6 of backstage superior for each Hong Kong dollar it has invested," Chan said. "Many projects impact cutting-edge technologies and transportation strategical importance, specified arsenic supporting Hong Kong-designed and developed RISC-V chips, applications of embodied artificial intelligence, and the enlargement of Hong Kong's electrical vehicle-charging exertion to overseas markets."