Two of first three Hetao buildings fully leased out

The first facilities at the Hetao industrial zone are already operating, and the leasing situation is satisfactory, the Permanent Secretary for Innovation, Technology and Industry Kevin Choi, said on Saturday. Choi, who also chairs Hong Kong-Shenzhen Innovation and Technology Park Limited, said that of the three buildings ready for business operations, two are fully leased. The tenants are mainly focused on life sciences and artificial intelligence. Mainland enterprises accounted for half of the tenants, followed by local companies at 30 percent, with the remainder from overseas. Choi added that 10 of the more than 90 companies, including Lenovo and AstraZeneca, are listed on stock markets. "What we value more is having a comprehensive and well-rounded ecosystem," he said on a radio programme. "So, in addition to the 10 listed and leading companies, about 70 per cent of our companies are start-ups. "We also introduced some incubation and nurture programmes, which ensure that large enterprises can guide small businesses through gradual advancement and upgrading. "Small businesses can either leverage their technology within larger companies, or thrive on their own to become unicorns or even publicly listed companies." Choi also said that one of the five buildings in the next batch would be ready for occupancy by the end of this year. He said 70 percent of the floor space in the building has been pre-leased, and authorities are formulating a leasing strategy for the remaining spaces. Edited by Robert Kemp