HK to help nation propel automotive sector

Chief Executive John Lee on Thursday said the SAR will grasp opportunities brought by a tech revolution to contribute to the nation's development in building a modern industrial system, and propel its carmaking industry. Officiating at the 2026 International Automotive Supply Chain Expo, Lee noted China is the world's largest car exporter, with the new energy vehicles industry achieving leapfrog development. He said the SAR's first five-year plan – which would roll out as soon as the third quarter – will match accordingly with the nation's 15th Five-Year Plan, which stated that efforts should be made to develop and expand emerging industries to accelerate the development of such sectors. "Hong Kong is actively developing new quality productive forces, promoting new industrialisation and accelerating economic transformation," Lee said. "With five universities ranked among the world's top 100, Hong Kong brings together research experts from home and abroad, as well as innovation resources and robust capabilities in high-end manufacturing from the Greater Bay Area. "This will provide strong support for the automotive industry and innovative enterprises to hit the ground running and lead the way in accelerating growth," he added. More than 120 strategic firms have set up shop in the SAR since the Office for Attracting Strategic Enterprises was established in 2022, Lee said, adding that they include those in the fields of new energy, autonomous driving and AI. Lee said this would help advance the rapidly growing automotive sector and thereby create synergies. He added that the SAR government looks forward to working with the industry to attract global automotive companies in choosing Hong Kong as their base of operations, and to jointly build a major global hub for the industry's innovation. Edited by Aaron Tam