The Hong Kong government will formulate a development plan for the low-altitude economy in the "Policy Address" and push for dedicated frequency spectrum by the end of the year

Chief Executive John Lee stated that the government is advancing the construction of a competitive low-altitude economic ecosystem. The authorities will formulate a "Development Action Plan for the Low-Altitude Economy," improve civil aviation legislation and regulatory frameworks, and establish dedicated laws for "non-traditional aircraft" weighing over 150 kilograms, laying the foundation for the standardized development of the low-altitude economy.

The authorities will also promote core infrastructure for the low-altitude economy, launching dedicated frequency bands by the end of this year, and planning the deployment of takeoff and landing sites, flight route networks, satellite positioning, three-dimensional spatial data systems, and intelligent low-altitude traffic management systems in advance.

The government will also increase encouragement for universities and enterprises to promote relevant research and development and applications through existing funding programs, and review related talent development to support the industry and universities in hosting more training for the promotion of the low-altitude economy. This year, it will continue to promote flagship events to showcase business opportunities in the low-altitude economy and an innovative, efficient, and safe low-altitude economic ecosystem. He revealed that the insurance industry has established a dedicated task force that will reference the government's "regulatory sandbox" data to develop low-altitude economic insurance products for different application scenarios.

In response to the national strategy of commercial aerospace as a strategic emerging industry, John Lee stated that the Hong Kong government will promote the development of aerospace technology and support the space economy. The "InnoHK Innovation Hong Kong Research Platform" has established the Hong Kong Space Robotics and Energy Center to support the national Chang'e 8 mission, and the "Innovation and Technology Support Program Special Call (Aerospace Technology)" provides over HKD 100 million to support six research projects at universities. The Commerce and Economic Development Bureau is simultaneously studying the simplification of licensing approvals for low-orbit satellites and promoting future 6G applications. The Hong Kong Investment Corporation will also advance investments related to commercial aerospace and the space economy