The Secretary for Financial Services and the Treasury, Mr Christopher Hui, today (September 29) led a delegation of local financial sector representatives to visit the Northern Metropolis, receiving briefings from the Northern Metropolis Co-ordination Office and relevant park companies on the latest developments and construction progress in the area. The delegation comprised senior management from various sectors, including asset management, private equity, insurance, accounting, and fintech, as well as senior representatives from financial regulatory bodies.

     Mr Hui and the delegation visited three core development areas in the Northern Metropolis, namely the Hong Kong-Shenzhen Innovation and Technology Park (i.e. the Loop Hong Kong Park), the Kwu Tung North New Development Area (NDA), and the Hung Shui Kiu/Ha Tsuen NDA, to gain an in-depth understanding of the industrial layout as well as potential investment and financing opportunities in each district.

     Through on-site inspections of the three areas, the delegation gained a comprehensive understanding of the unique development advantages of "one river, two banks" and "one zone, two parks" in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, as well as its synergistic development with the adjacent San Tin Technopole, including support for the development of the Northern Metropolis University Town; the taking-shape infrastructure and housing development in the Kwu Tung North NDA; and the strategic positioning of the Hung Shui Kiu/Ha Tsuen NDA as a hub for high-end professional services and logistics, particularly its geographical advantage in being adjacent to Qianhai.

     During the visit, they explored the role of financial services in supporting technological innovation and project financing; the financing needs arising from the Kwu Tung Station, the Northern Link, housing development plans in the Kwu Tung North NDA, and various project developments; as well as the latest developments and immense growth potential of various sectors, including the Hung Shui Kiu Industrial Park, large-scale district development, and the University Town.

     During the visit, Mr Hui said, "The Chief Executive explicitly stated in the newly announced Hong Kong's First Five-Year Plan that 'finance is the foundation and the greatest strength of Hong Kong'. As the most important new growth engine for Hong Kong's future, the Northern Metropolis serves as the optimal setting to realise the 'dual integration' of 'Finance+' strategy with the real economy. Over the years, Hong Kong's financial sector is not just an observer in terms of the city's growth, but rather an active engine driving its strategic transformation. We organised this visit precisely to enable the financial industry to have the first-hand insights into the land, with a view to comprehensively promoting the integrated development of the financial sector and the real economy.

     "The development of the Northern Metropolis must be closely combined with the deployment of financial resources. Leveraging market forces and social capital to provide diversified and sustainable financial support for the infrastructure, commercial projects, and industry parks in the Northern Metropolis is a key strategy for the Government to accelerate and enhance efficiency for the development. This is also the most vivid embodiment of our full-fledged efforts to drive Hong Kong's evolution from a 'financial city' into a 'finance-empowered city', using finance as a catalyst to boost development in technology, green transition, and livelihoods," he added.

     As of July this year, the Finance Committee of the Legislative Council has approved over $180 billion in funding for public works projects related to the Northern Metropolis, demonstrating the Government's firm commitment to supporting infrastructure development in the area. In addition, the Government will inject $10 billion each into three park companies - the Hong Kong-Shenzhen Innovation and Technology Park Limited, the Hung Shui Kiu Industry Park Company Limited, and the San Tin Technopole Company Limited - and has reserved $10 billion to support the development of the Hung Shui Kiu University Town campus area by way of loans, thereby engaging market forces to accelerate project development.

     At the same time, the 2026 Policy Address stated that efforts will be stepped up to attract long-term capital investment into the Northern Metropolis and deepen the alignment of 'Finance + Northern Metropolis Development'. The Northern Metropolis Financial Advisory Taskforce, established by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks, which currently comprises 23 participating banks, will tailor financing solutions for enterprises setting up in the Northern Metropolis and provide targeted support for the Northern Metropolis development.

     Mr Hui added, "The Financial Services and the Treasury Bureau, together with the HKMA, are exploring ways, under the current regulatory capital framework for banks, to facilitate financing for government-related entities such as park companies and funded universities developing in the Northern Metropolis, thereby unlocking greater financing flexibility to advance related projects in the area. Furthermore, following the enhancement to the risk-based capital regime for the insurance industry, preferential capital treatment will be provided for infrastructure investments, including those in the Northern Metropolis, starting from December 31 this year. We expect that with this new measure, more insurance capital will be injected to infrastructure projects under the Northern Metropolis development."

     Delegation members considered that the visit was enlightening in deepening the industry's understanding of the positioning and commercial growth potential of the Northern Metropolis, laying a strategic foundation for the financial sector's subsequent participation in investment projects across various domains in the area.

Ends/Tuesday, September 29, 2026
Issued at HKT 14:30

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