Hong Kong’s ambitious tech drive gains momentum with new investments as 17 companies, including iFlytek under U.S. sanctions, sign deals to set up operations in the city.

Article published on: 12th November 2024

Credit: Hong Kong Free Press

In Summary:

In a significant move to boost Hong Kong’s tech sector, 17 companies have agreed to establish or expand their operations in the city as part of a government-led push. Among these firms are 15 from mainland China, including prominent AI developer Baidu Ai Cloud and iFlytek, which has faced U.S. sanctions since 2019. The investment commitments are expected to inject HK$42 billion and create approximately 17,000 jobs in Hong Kong over the next few years. The Office for Attracting Strategic Enterprises (OASES), established in 2022, spearheaded this initiative to draw major players in tech and innovation.

For the full article, visit the original post on: HongKongfp: 17 companies sign deal in gov’t push to boost Hong Kong’s tech sector, including one under US sanctions