The Hong Kong government's Innovation and Technology Venture Fund of HK$10 billion was approved by the Legislative Council Finance Committee.

According to the Wisdom Finance APP, the Hong Kong government proposed to establish a new commitment of 10 billion Hong Kong dollars for the "Innovation and Technology Industry Support Fund", which was approved by the Finance Committee of the Legislative Council on July 25. Several members of the council were concerned about the fund's return on investment and operation issues. New Democratic Party member Alice Mak mentioned that based on market experience, private equity (PE) and venture capital (VC) companies are not always profitable, with only one or two out of ten being successful. She asked if the government has anticipated the rate of investment failures and also requested regular reporting from the government. The document mentioned a minimum compound annual return rate of 6%, but noted that certain industries, such as batteries and satellite hardware, may not always be profitable.