Hong Kong is accelerating its plans to become a major technology hub, with a focus on artificial intelligence and closer ties with mainland China. The initiative, centred around the Northern Metropolis project, aims to transform a sparsely populated area into a hub for innovation and advanced industries. This is part of a broader strategy to diversify Hong Kong's economy beyond finance and real estate. The government plans to attract companies in sectors like AI, renewable energy, and medical technology by easing financing restrictions. This push comes as Hong Kong seeks new growth drivers to bolster its economy, despite recent signs of recovery.
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