The leap in development by Chinese mainland companies across various scientific and technological sectors has prompted many businesses in the United States to reassess China”s capacity for innovation. Paul Chan Mo-po, the financial secretary of the Hong Kong Special Administrative Region (HKSAR), noted in a blog post on Sunday that this shift has led numerous US firms to look for opportunities in mainland China and broader Asian markets through Hong Kong.
Chan”s comments came after he participated in the Annual Meetings of the International Monetary Fund and the World Bank Group as part of the Chinese delegation. He emphasized that the “One Country, Two Systems” framework positions Hong Kong as a vital connector and value creator between the Chinese mainland and the global market.
In light of the changing global landscape, Chan urged Hong Kong to leverage emerging trends by pursuing innovations and establishing new networks. He believes this approach will enhance cooperation and contribute significantly to global connectivity and economic prosperity.
According to Wang Peng, a research fellow at the Beijing Academy of Social Sciences, the collaborative innovation ecosystem between Hong Kong and the mainland fosters a beneficial cycle of institutional complementarity, research cooperation, and industrial integration. By acting as a “super-connector,” Hong Kong bolsters the mainland”s innovation capabilities and aids its global market outreach. In turn, the mainland offers strong industrial chains, expansive markets, and policy support that invigorate Hong Kong”s innovation ecosystem.
Wang noted that Hong Kong is set to become a crucial node in the global innovation network and an essential driver of China”s high-quality economic growth. This year, China”s remarkable innovations have gained international attention. Examples include the performance of humanoid robots by Unitree Robotics, which became a trending topic during the Spring Festival Gala, as well as interest in DeepSeek”s large-language model in artificial intelligence. Additionally, BYD”s new battery and charging technology allows electric vehicles to achieve a range of 400 kilometers in just five minutes.
These advancements highlight the vigorous dynamism present in China”s technology sector. According to the World Intellectual Property Organization, China has climbed to the 10th position in the global innovation rankings for 2025, marking its first entry into the top ten.
China”s focus on innovation-driven growth presents opportunities for international businesses and academic institutions to engage in more advanced collaborations. John Quelch, the executive vice chancellor and distinguished professor of social science at Duke Kunshan University, stated that there are opportunities for joint research in areas such as green technology, artificial intelligence development, and industrial upgrades.
Quelch also pointed out that foreign companies continue to benefit from China”s vast and rapidly evolving market. As Chinese industries progress up the value chain, they generate new demand for specialized technologies, components, and services that international partners can offer. For instance, the fast-growing pharmaceutical sector in China opens doors for collaboration and trade within the pharmaceutical and life sciences industries.
