Page 186 - AmCham South China 2026 Special Report on the State of Business in South China

? Enhancing business, technology and development ? twice the size of the Loop (Area A);
quantum resilience: The HKMA is taking proactive Area C is the Shenzhen Innovation and Technology
steps to strengthen the resilience of the financial Park adjacent to the Loop on the Shenzhen side,
sector, including a new fintech-specific cybersecurity spanning 167 hectares. The combined area of the
certification framework and a new system of early three areas amounts to 426 hectares, comparable
detection through real-time analysis. In shaping in size to Taiwan¡¯s Hsinchu Science Park. Both
the future of quantum finance, the HKMA will drive cities are seeking stronger policy support from the
industry readiness for post-quantum cryptography Central Government to create cluster and synergy
and build quantum-safe infrastructure for secured effects, positioning the zone as a global innovation
financial services. and technology hub.

? Tokenization of finance: To build a vibrant On 6 September 2021, Shenzhen and Hong
tokenization ecosystem in Hong Kong, the HKMA Kong signed the ¡°Cooperation Arrangement on
will accelerate the tokenization of real-world assets Promoting the Construction of One Zone and Two
(RWAs), including financial assets, and lead by Parks¡± at the Hong Kong-Shenzhen Innovation
example by regularizing the issuance of tokenized and Technology Park (HSITP). The agreement
government bonds and exploring the concept focuses on establishing the Shenzhen Branch of
of tokenizing the Exchange Fund papers. Their the Hong Kong Science Park and the Greater Bay
settlements on blockchains will be enabled by Area Inno Academy to provide resources, training
new forms of digital money, including the e-HKD, and talent for both cities. The collaboration also
tokenized deposits and regulated stablecoins. includes the creation of the Greater Bay Area
The HKMA will soon launch the Project Ensemble Innovation and Technology Inno Express, which
pilot to empower real-value transactions and will offers business development support for mainland
continue to incubate innovative tokenization use innovation enterprises and Hong Kong technology
cases in collaboration with industry stakeholders companies. Currently, the HSITP is advancing
and other central banks. three core development directions ? life sciences,
information science and materials science ? and six
key innovative areas: medical technology, big data
Special economic zones and AI, robotics, new materials, microelectronics
and fintech.
The Lok Ma Chau Loop Hong Kong-
Shenzhen Innovation and Technology Park In late 2024, the Hong Kong government released
a development outline to advance the HSITP
160
The Lok Ma Chau Loop, located south of the in four directions, namely, to build a world-class
Shenzhen River near the Lok Ma Chau control industry-academia research platform, to establish
point in Hong Kong, was earmarked in March 2017 an internationally competitive R&D transformation
for development into the Hong Kong-Shenzhen and pilot production base for industries, to foster
Innovation and Technology Park (HSITP). This a hub for pooling global I&T resources and to
followed a Memorandum of Understanding signed cultivate a testing ground for institutional and
by the Hong Kong and Shenzhen governments policy innovation. The government will collaborate
in January 2017 to strengthen cross-border with Shenzhen to develop the zone into a world-
collaboration. Covering 87 hectares, the HSITP is class innovation and technology platform and an
expected to become the largest innovation and important engine for high-quality development
technology platform ever established in Hong of the GBA. By 2030, Phase 1 of the Hong Kong
Kong. It will serve as a key base for research park will be completed. By 2035, a comprehensive
cooperation and attract top-tier enterprises, development pattern will emerge, supported by
research institutions and higher education a vibrant innovation and technology ecosystem.
institutes from Hong Kong, the Chinese mainland Phase 2 will focus on attracting enterprises and
and the rest of the world. The park features two investment, as well as drawing leading companies
major adjoining areas: Area B covers 182 hectares 160 Gov.cn, https://www.gov.cn/yaowen/liebiao/202411/
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