LCQ12: Dovetailing with our country's planning to promote development of aerospace science and technology industry
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Question:
Following the successful launch of the Shenzhou-23 manned spaceship recently, the first female payload specialist from Hong Kong also travelled into space on board. At the same time, our country's "Outline of the 15th Five-Year Plan" has included for the first time the need to "work faster to boost China's strength in aerospace" as a key task while expressly pointing out the need to promote the development of strategic emerging industries such as aviation and aerospace. Regarding areas such as promoting the development of aerospace and space technologies as an industry, leveraging Hong Kong's advantages as a financing platform, and deepening the training of young talents, will the Government inform this Council:
(1) whether the Government will formulate specific strategies for areas such as scientific and technological research, talent cultivation and industry development in the aerospace domain, so as to build up the role of Hong Kong in the commercial aerospace industry chain of our country;
(2) how the Government will attract Mainland and international commercial aerospace enterprises to Hong Kong for listing, issuing bonds, undertaking private equity financing, and setting up regional headquarters or research and development centres;
(3) as the authorities indicated earlier that the Hong Kong Exchanges and Clearing Limited had been requested to review the relevant listing mechanisms and requirements to facilitate and dovetail with financing activities involving aerospace enterprises, of the specific progress of the review at present and the timetable for implementing the relevant measures;
(4) whether the authorities will assess the number of high-end employment opportunities that can be created by the aerospace science and technology industry for Hong Kong's young people and its manpower demand in the coming 5 to 10 years; and
(5) whether the Government will launch more dedicated training programmes or subsidy funds specifically for tertiary students and young people who have just begun their careers, so as to encourage young people to enrol in advanced professional programmes relating to the aerospace domain and nurture more aerospace industry talents equipped with interdisciplinary capabilities for Hong Kong; apart from training programmes and subsidy funds, what other specific schemes have been put in place by the authorities to nurture the relevant talents?
Reply:
President:
The National 15th Five-Year Plan clearly sets out key strategies to develop a modernised industrial system and expedite the development into an aerospace power. With the strong support of the country, a Hong Kong payload specialist takes part in the Shenzhou-23 manned spaceflight mission for the first time, which is a testimony to the country's high recognition of Hong Kong's innovation and technology (I&T) talent, development, and achievements. It also reflects the great importance attached, as well as the care and support given to the technological development in Hong Kong by our country. Hong Kong has transformed from being a "supporter" of the country's great aerospace endeavours into a "participator". This does not only demonstrate Hong Kong's capability in contributing to the country's development into an aerospace power, but also showcases how Hong Kong could better integrate into and serve the overall national development.
Having consulted the Education Bureau (EDB), the Financial Services and Treasury Bureau (FSTB) and the Labour and Welfare Bureau (LWB), our reply to the Hon Albert Chuang's question is as follows:
(1) Hong Kong Special Administrative Region (HKSAR) possesses strong capabilities in scientific research. Various research institutions and universities have been participating in aerospace research projects, including providing systems, instruments, and technical support for the country's lunar and Mars exploration missions, as well as conducting spaceborne experiments, actively contributing to the country's aerospace development. In future, Hong Kong can play a unique role in fostering international exchanges and collaborations as the country's aerospace development goes global, so as to leverage Hong Kong's strengths to contribute to the national needs.
The Government has a clear plan on promoting the development of aerospace technology. Talent is a critical element for promoting I&T development. The Government is taking forward the development under the principle of "promoting technology with talents, leading industries with technology, and attracting talents with industries". Under the "one country, two systems" principle, Hong Kong possesses the distinctive advantages of enjoying strong support of the motherland and being closely connected to the world. With five universities ranking among the world's top 100, Hong Kong provides a powerful impetus for nurturing and attracting I&T talents.
The Innovation, Technology and Industry Bureau and the Innovation and Technology Commission (ITC) have been expanding the local research and I&T talent pool through a multipronged approach, supporting enterprises and research institutions in grooming technology (including aerospace technology) talents and promoting I&T development. Such measures include:
(i) the STEM Internship Scheme, which subsidises undergraduates and postgraduates taking full-time STEM (science, technology, engineering and mathematics)-related programmes to enrol in short-term internships, with a view to encouraging them to gain I&T-related work experience;
(ii) the Research Talent Hub, which provides funding support to eligible companies or organisations to engage research talents to conduct research and development (R&D) work; and
(iii) the New Industrialisation and Technology Training Programme, which subsidises local enterprises on a 1(Government):1(enterprise) matching basis to train their staff in advanced technologies.
Furthermore, the Hong Kong Space Robotics and Energy Centre has been established under the InnoHK research clusters to participate in relevant aerospace missions of our nation. The ITC also launched the Innovation and Technology Support Programme Special Call on Aerospace Technology in July 2024 and deployed over $100 million funding to support six projects related to aerospace technology. One of them was the Multi-Spectral Imaging Carbon Observatory (MUSICO) camera, which has recently arrived at Tiangong Space Station. The development of MUSICO was led by the Hong Kong University of Science and Technology (HKUST).
Regarding industry development, the Government's relevant existing policy measures are all applicable to the realm of aerospace. For example, the New Industrialisation Funding Scheme supports enterprises in obtaining funding on a matching basis to set up new smart production lines in Hong Kong; the New Industrialisation Acceleration Scheme provides funding on a matching basis to enterprises engaged in strategic industries to establish new smart production facilities in Hong Kong; and the Innovation and Technology Industry-Oriented Fund is also planned to commence operation within the year to channel more market capital into strategic emerging and future industries, thereby systematically building up the I&T industry ecosystem.
All in all, the Government will continue to enhance research capability, initiatives on nurturing talent and industry support, with a view to enabling Hong Kong to perform its unique role in the country's aerospace development.
(2) & (3) The FSTB is committed to building a vibrant and sustainable fundraising platform in Hong Kong. As a global major listing platform for companies from different jurisdictions and the second largest private equity management centre in Asia following the Mainland, the FSTB actively drives the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) to study broadening the fundraising channels for enterprises, as well as keeping abreast of international trends and continuously enhancing Hong Kong's listing regime, thereby facilitating listing by companies from different industries in Hong Kong. On the other hand, through the active promotion of the Government, Hong Kong has been a major international bond issuance hub in Asia. In fact, the Hong Kong bond market has seen vibrant development in recent years, with annual issuance size gradually rising and issuers becoming more diversified. A number of major technology companies have issued bonds in Hong Kong in recent years. The Government, the SFC and the Hong Kong Monetary Authority will continue to implement the various initiatives under the Roadmap for the Development of Fixed Income and Currency (FIC) Markets, and step up market outreach to various target markets, with a view to attracting more issuers and investors (including technology enterprises) to participate in Hong Kong's FIC markets.
In recent years, the aerospace industry has experienced significant development, extending beyond national strategic initiatives into the commercial sphere. On the listing platform, the HKEX introduced Chapter 18C in March 2023 to provide a listing pathway for early-stage specialist technology companies. According to the HKEX's guidance, Chapter 18C captures a broad range of aerospace-related business activities under the existing acceptable sectors of specialist technology industries, including aerospace technology, advanced communication technology and advanced transportation technology. Applicants from the aerospace industry may apply for listing under Chapter 18C and benefit from the Technology Enterprises Channel. To support the high-speed developments of relevant industries, the HKEX has commenced a review to assess and optimise the existing listing framework to meet the fundraising needs arising from the development of the aerospace industry, and will announce specific measures or provide further guidance as appropriate in due course.
Furthermore, the Hong Kong Investment Corporation Limited (HKIC) is actively exploring investment directions related to commercial aerospace and the space economy. By synergising capital, technology, talent and application scenarios, the HKIC will facilitate to connect promising aerospace enterprises with the diverse financing channels, high calibre talent, and common law system advantages of Hong Kong as an international financial centre, thereby helping relevant enterprises accelerate technological translation and market implementation. The HKIC will also deepen collaborative innovation with local universities and research institutions, promote industry-academia-research collaboration, and assist Hong Kong in contributing to our country's aerospace development with its own strengths, while injecting new momentum into Hong Kong's high-quality economic development.
(4) The HKSAR Government has been conducting periodic manpower projection (MP) exercises to assess Hong Kong's future manpower supply and requirement trends at a macro level, with a view to providing an important reference for the planning of medium-term manpower strategies. The LWB is currently conducting a mid-term update of the MP to assess Hong Kong's manpower supply and demand trends from 2025 to 2028 at the macro level. The scope of the MP covers 17 key economic sectors, including the "international I&T centre". The development of various advanced technologies (including aerospace technology and related cutting-edge technologies) as well as relevant scientific research activities (including R&D activities in the public, business and higher education sectors) have been subsumed under the overall manpower demand assessment for the "international I&T centre". At present, the stakeholder consultation and data analysis for the mid-term update of the MP have been largely completed. Final data consolidation is underway, and the LWB expects to release the findings in the fourth quarter of 2026.
Regarding the specific breakdown of data analysis, preliminary feedback from the stakeholder consultation indicates that the manpower demand related to aerospace technology only accounts for a relatively small proportion of the entire manpower demand for the international I&T centre at the current stage. Hence, an independent quantitative assessment on aerospace technology has not been conducted in this mid-term update of the MP. The Government will continue to closely monitor the development trends of I&T (including aerospace technology) in Hong Kong. Where necessary, consideration may be given in future MPs to conducting more targeted sub-sectoral assessments on specific technology areas, so as to ensure that the manpower supply can dovetail with the development needs of the industries and our country.
(5) The EDB advised that the Government has all along encouraged the University Grants Committee (UGC)-funded universities to offer programmes which cater for Hong Kong's development needs, expand the talent pool of important areas such as I&T, and strengthen Hong Kong's competitiveness. In "The Chief Executive's 2022 Policy Address", we announced our target that by the 2026/27 academic year, 35 per cent of the students of the UGC-funded universities will be studying STEAM (science, technology, engineering, art and mathematics) subjects and 60 per cent will be studying subjects relevant to Hong Kong's development into the "eight centres" in the 14th Five-Year Plan. During the 2025-28 triennium, the eight UGC-funded universities collectively introduce 27 new undergraduate programmes related to STEAM and the "eight centres", covering emerging fields that have been rapidly developing and highly popular among young people in recent years, such as aerospace science and technology, etc. They will not only consolidate Hong Kong's development in I&T and the "eight centres", but also create opportunities for young people to give full play to their strengths, thereby promoting greater social and economic diversification.
The UGC allocates recurrent funding to the eight UGC-funded universities, in the form of a block grant on a triennial basis, for offering programmes and allocating student places among different disciplines.
At present, there are four UGC-funded universities offering undergraduate programmes in aerospace knowledge and training in Hong Kong, namely City University of Hong Kong, the Chinese University of Hong Kong, the Hong Kong Polytechnic University (PolyU) and the HKUST. PolyU also provides postgraduate programmes. These programmes all serve to nurture talent in aerospace engineering for both Hong Kong and the nation.
Ends/Wednesday, June 3, 2026
Issued at HKT 17:15
Issued at HKT 17:15
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