“We have recently been in discussions with several companies, not necessarily limited to Europe and the US, but also some well-known Asian companies,” he advised a TV programme, however stopped in need of naming the companies.

“It is possible that we will see the establishment of these overseas renowned companies in Hong Kong as early as the beginning of next year.”

The native economic system in 2023 suffered home and exterior shocks, with sluggish development throughout the border and potential cuts to US rates of interest contributing to an unsure outlook for Hong Kong.

Sun additionally performed up the larger proportion of mainland firms planning to determine a presence in Hong Kong, noting they already loved proximity and shut enterprise ties with town.

Many of the businesses had sturdy worldwide backgrounds, resembling microelectronics enterprise J2 Semiconductor, which employed expertise from the mainland, Hong Kong, Taiwan and the United States, he added.

“It is a good thing that mainland companies are coming in first, as they will contribute to a more vibrant innovation and technology ecosystem in Hong Kong, which will attract global attention and enhance confidence among foreign enterprises,” Sun mentioned.

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UBTech Robotics, the mainland’s largest producer of academic and humanoid robots, and UK-based international pharmaceutical agency AstraZeneca are among the many newest firms which have pledged to arrange store in Hong Kong.

Asked if the inflow of largely analysis and development-focused firms might hinder town’s long-term “re-industrialisation” drive, Sun mentioned a number of the inbound companies deliberate to arrange pilot manufacturing strains to assist generate income.

The expertise minister additionally touched on authorities efforts to help native start-ups and mentioned they had been thought of “the hope for Hong Kong’s future high-quality industrial development”.

“Ultimately, my hope is that in five or 10 years, these companies will become giants in Hong Kong, just like Huawei, Tencent and BYD in Shenzhen today,” he mentioned.

Financial Secretary Paul Chan Mo-po on Sunday mentioned Hong Kong was pushing to spice up its international presence and would run a collection of mega-events that lined areas resembling sports activities, tradition, commerce and finance.

The occasions embody the Asian Financial Forum in January, the Hong Kong International Diamond, Gem and Pearl Show in February and Art Basel in March, in addition to the Global Financial Leaders’ Investment Summit in November.

“These activities highlight the rich blend of Chinese and Western cultures in Hong Kong, as well as its diverse and inclusive cultural characteristics,” he mentioned.

“With new elements and experiences, both local and international visitors will be eager to visit and return to Hong Kong.”

Chan mentioned he would additionally journey to Switzerland subsequent month for the World Economic Forum in Davos, the place he deliberate to showcase Hong Kong’s benefits to international monetary leaders.

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The finance chief additionally regarded again on 2023 and mentioned town had launched into a path in the direction of full restoration whereas going through a number of challenges, resembling heightened geopolitical tensions, sustained inflationary pressures and modifications in client patterns.

The headwinds had exerted strain on town’s commodity exports, financial revival, and asset markets’ efficiency, he defined.

But Chan mentioned town was set to profit within the long-term from authorities efforts to spice up the native economic system, such because the “Happy Hong Kong” marketing campaign and the rise in delegations despatched abroad to “expand friend circles”.

“But the seeds planted through previous efforts will yield more significant harvests in the coming year and beyond,” he added.

The finance chief additionally careworn that Hong Kong wanted to constantly discover new options and pathways, in addition to keep a curious and open-minded perspective, to take care of the altering instances.