Hong Kong hosts first LEAP East, drawing 35,000 global innovators
- Written by Media Outreach
"This turnout speaks volumes about the global appeal of LEAP East and the strength of our shared vision," said Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region Government (HKSARG) at the opening ceremony of the event. "I am particularly delighted to note that this conference will continue to be held in Hong Kong in the coming three years."
Other top government officials attending the opening ceremony included Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSARG and Abdullah Alswaha, Minister of Communications and Information Technology of Saudi Arabia.
The event underscored the deepening partnership between Hong Kong and Saudi Arabia, and highlighted Hong Kong's role as a unique gateway connecting the Chinese Mainland with the world.
"Hong Kong is perhaps the only city in the world that connects seamlessly to both the Chinese Mainland and the rest of the world at the same time," Mr Chan said. "Working under the common law system, we have robust protection for intellectual property. As a free port, capital, goods, talent and data freely flow in and out of this city. Simple, low tax is a standing feature of our regime. And we are one of the safest, most stable cities anywhere in the world. These are the foundations on which businesses, talent and creativity thrive."
Mr Chan invited Saudi and Gulf enterprises to use Hong Kong as an international fundraising and risk-management platform, and expressed the HKSAR's commitment to further strengthening co-operation with Saudi Arabia in innovation, infrastructure, green technology, healthcare, advanced manufacturing and professional services.
"Innovation needs capital, and Hong Kong is where capital and ideas meet. This is the heart of our 'Finance+' strategy - using finance as a powerful enabler to drive the real economy," Mr Chan said.
(From fifth right) Financial Secretary of HKSARG, Paul Chan; the Minister of Communications and Information Technology of Saudi Arabia, Abdullah Alswaha; the Secretary for Innovation, Technology and Industry of HKSARG, Professor Sun Dong, and other guests attend the LEAP East 2026 opening ceremony.
Professor Sun noted that the HKSARG's efforts in promoting innovation and technology (I&T) are bearing fruit. He said the number of start-ups in Hong Kong has surged by 40% since 2021, reaching 5,200 in 2025. The Shenzhen-Hong Kong-Guangzhou innovation cluster was ranked first globally in the Global Innovation Index 2025 and Hong Kong ranked fourth globally in the World Digital Competitiveness Ranking 2025, and second globally in the World Competitiveness Yearbook 2026.Hong Kong also topped the world in IPO (initial public offering) in 2025, with 119 listings raising some US$35 billion, including many world tech champions.
Professor Sun also met with Mr Alswaha to exchange views on I&T collaborations between Hong Kong and Saudi Arabia.
"This international gathering reflects the rising global I&T momentum, and Hong Kong is proud to serve as a 'super connector' and 'super value-adder' for international exchanges," Professor Sun said.
Meanwhile, Mr Chan revealed that he plans to lead a Hong Kong delegation to Saudi Arabia later this year, bringing leading companies in infrastructure, green tech, healthcare and advanced manufacturing, plus professionals in the finance, investment and professional services sector, to explore concrete projects and further partnership.
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