New scheme to empower emerging industrial enterprises

$220m earmarked for national manufacturing innovation centre.

The government will launch the New Industrialisation Elite Enterprises Nurturing Scheme in 2026 to support high-growth companies in emerging sectors, Financial Secretary Paul Chan Mo-po said during the 2026-27 Budget delivery.

The plan also earmarks $220m to establish a national manufacturing innovation centre in the region, marking the first such facility located outside Mainland China.

The Hong Kong Microelectronics Research and Development Institute will begin operating pilot lines for R&D and trial production of third-generation semiconductors.

The New Industrialisation Acceleration Scheme has already supported two enterprises in the semiconductor chip technology and equipment sector, representing $1.5b in investment.

To date, the scheme has backed four projects involving high-end smart production facilities, totalling $2.5b, with private investment accounting for 70% of funding, the finance secretary noted.

The New Industrialisation Funding Scheme has also supported 120 production lines using technologies such as the Internet of Things, data analytics, and robotics, resulting in private investment exceeding $1b.

The government is also studying Hong Kong’s industrialisation and future industries to align with national planning, following a cooperation agreement with the Ministry of Industry and Information Technology.