Research and development spending in Hong Kong continues to rise.

The "Innovation Activity Statistics of Hong Kong 2024" report released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government shows that local R&D spending continues to rise, reaching HK$35.772 billion in 2024, an increase of 8.4% from 2023. The number of R&D personnel has shown a stable growth in the past few years, reaching 47,210 in 2024. A spokesperson for the SAR government said that they will continue to implement various policy measures to create favorable conditions for the development of innovation and technology in Hong Kong, further promote the development of innovation and technology, develop new quality productivity, and realize the vision of Hong Kong becoming an international innovation and technology center.