​The Government announced today (May 27) the establishment of the San Tin Technopole Company Limited (STTCL) in the first half of this year to press ahead with the development of the 210-hectare innovation and technology (I&T) land in the San Tin Technopole. At the same time, with the approval of the Chief Executive, the Government has appointed Dr Sunny Chai Ngai-chiu as the Chairman of the Board of Directors of the STTCL for a three-year term with effect from July 1, 2026.

     To press ahead with the development of the San Tin Technopole, it is announced in the 2026-27 Budget that the Government will establish a dedicated company this year and propose to inject $10 billion as initial capital to take forward the development, with a view to leveraging market resources to accelerate the progress and promoting the development of the relevant sites. The Innovation, Technology and Industry Bureau (ITIB) will seek the approval of the Financial Secretary in the first half of this year to incorporate a non-statutory, limited company wholly owned by the Financial Secretary Incorporated, named the San Tin Technopole Company Limited.
      
     The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said that the Government promulgated the Conceptual Outline of the Development Plan for the Innovation and Technology Industry in the San Tin Technopole in November 2025, which provided a top-level design for the 210-hectare new I&T land in the San Tin Technopole in terms of development vision, objectives and positioning, industrial spatial layout, and development model, thereby setting a clear development strategy for the San Tin Technopole. As a natural extension of the Loop, the San Tin Technopole in the Northern Metropolis, together with the Hong Kong Park in the Loop, provides a co-ordinated development at the upstream, midstream and downstream levels, creating a comprehensive industrial ecosystem. While the Loop focuses on research and development (R&D), commercialisation, and pilot production at the upstream and midstream levels, the San Tin Technopole will provide a large piece of land, which can help accelerate the commercialisation of R&D results by providing industrial space for prototyping, pilot and mass production, supporting Hong Kong in establishing a new industry pattern of "South-North dual engine (finance-innovation and technology)".
      
     Professor Sun continued, "Dr Chai is a seasoned industrialist with rich experience in public service. He has been appointed as the Chairman of the Board of the Hong Kong Science and Technology Parks Corporation (HKSTPC) since 2018, the term of which will expire on June 30, 2026. Under Dr Chai's sterling leadership, the HKSTPC has conducted planning studies for approximately 20 hectares of land within the San Tin Technopole. Upon Dr Chai's chairmanship of the HKSTPC expiring, he will become the first Chairman of the STTCL. I am confident that under Dr Chai's leadership, the San Tin Technopole will become a stronghold for the future development of emerging technology industries in Hong Kong and an important base for developing new quality productive forces.
      
     "The HKSTPC will continue to work closely with the Government and co-ordinate with the STTCL to proceed with the overall development of the San Tin Technopole and expand the I&T ecosystem. Leveraging Hong Kong's international strengths, the HKSTPC will further reinforce the city's role as a bridge between the Chinese Mainland and the world."
      
     In terms of corporate structure, the Board of the STTCL shall be appointed by the Government. The Board will comprise a chairperson, official directors, and non-official directors. The official directors will include the Permanent Secretary for Innovation, Technology and Industry; the Permanent Secretary for Financial Services and the Treasury (Treasury); and the Commissioner for Innovation and Technology. The Government will participate directly in the major decisions of the STTCL through the official directors to ensure the development and operation of the San Tin Technopole completely align with the principles of the country and the Hong Kong Special Administrative Region Government. The non-official directors will come from diverse backgrounds and sectors, allowing the STTCL to draw on the expertise from outside the Government.

     The ITIB is pursuing a series of preparatory tasks to be completed within this year, including the appointment of non-official directors of the Board, open recruitment of the Chief Executive Officer and other key personnel, land grant, and seeking the Legislative Council's approval for the funding application for capital injection to the STTCL, with a view to enabling the STTCL to commence operation as soon as possible.

Ends/Wednesday, May 27, 2026
Issued at HKT 10:02

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