In 1999, with much fanfare, Hong Kong’s government unveiled plans for a futuristic-sounding technology hub that would be “critical” to its transformation into “a leading digital city in the region”.
Cyberport, which was followed over the next two years by Science Park, another state-backed tech hub, and a new government body tasked with attracting foreign direct investment, promised an era of innovation in an economy dominated by a clutch of tycoons and financial behemoths.
Since then, government investment has grown, culminating in the creation of an innovation and technology bureau in 2015 that has helped to allocate more than HK$100bn (￡9.84bn) to new initiatives.
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