--- title: "Hong Kong considers new offshore yuan venture fund for tech, emerging industries" type: "News" locale: "en" url: "https://longbridge.com/en/news/288163110.md" description: "Hong Kong's Financial Secretary Paul Chan announced the city is considering launching a new offshore renminbi venture fund to invest in cutting-edge technology and emerging industries, supporting yuan internationalisation. This initiative aligns with the 15th Five-Year Plan to boost Hong Kong's role as an international financial hub. The government also plans to inject more capital into the Hong Kong Investment Corporation and enhance its competitiveness as an offshore yuan hub through various financial products and cross-border transactions." datetime: "2026-05-31T06:30:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288163110.md) - [en](https://longbridge.com/en/news/288163110.md) - [zh-HK](https://longbridge.com/zh-HK/news/288163110.md) --- # Hong Kong considers new offshore yuan venture fund for tech, emerging industries Hong Kong is actively considering launching a new offshore renminbi venture fund to channel capital into cutting-edge technology and emerging industries, while supporting yuan internationalisation, the city’s finance chief has said. The initiative aligns with the nation’s 15th five-year plan, which guides development from 2026 to 2030 and calls on Hong Kong to enhance its role as an international financial hub and expand its offshore renminbi business. “We are actively considering establishing a brand-new offshore renminbi venture capital fund,” Financial Secretary Paul Chan Mo-po wrote in his weekly blog on Sunday. “This will help channel and leverage offshore renminbi capital into cutting-edge technology and emerging industries, while supporting the steady development of renminbi internationalisation.” Such a move sought to build on the growing convergence between artificial intelligence and finance, Chan said. He highlighted the virtuous cycle in which finance and innovation and technology (I&T) support each other’s growth and inject stronger momentum into high-quality economic development. “Hong Kong has invested heavily in innovation and technology, and this effort is transforming into a new driving force for economic growth,” Chan said. “However, this effort must be intensified and accelerated.” He noted the Northern Metropolis megaproject, with its integrated “research and development-commercialisation-mass production” layout, could serve as a fertile ground for the I&T ecosystem in Hong Kong. The megaproject aims to turn 30,000 hectares (74,132 acres) of land near the border with mainland China into a technological and economic hub. The government also plans to inject further capital into the Hong Kong Investment Corporation (HKIC), the city’s wholly owned investment vehicle, which currently manages HK$62 billion (US$7.9 billion) in starting capital. As of March, the HKIC had invested in more than 200 projects, spanning biotechnology, health technology, green technology and new energy. Ten of these companies are listed on the city’s bourse, with another 30 either having applied or preparing to be listed, according to Chan. In this year’s budget, the government outlined plans to enhance Hong Kong’s competitiveness as an offshore yuan hub, which already handles more than 75 per cent of offshore renminbi settlement. Efforts include offering a wide range of yuan-denominated investment products, regularly issuing renminbi bonds, attracting “high-quality issuers” to offer yuan notes, and bringing more cross-border yuan transactions to the city. Separately, Chan said Hong Kong’s April retail sales figures, due to be released this week, were expected to show a 12th consecutive month of growth and a robust increase, showcasing stable and reviving momentum in local retail. He attributed the economic growth to technological breakthroughs and product and design innovations, which had driven up investment and sales. Chan also highlighted a recent Boston Consulting Group report showing Hong Kong had overtaken Switzerland to become the world’s largest cross-border wealth hub, describing it as global capital’s “vote of confidence” in the city’s system and investment environment. ### Related Stocks - [03161.HK](https://longbridge.com/en/quote/03161.HK.md) - [83420.HK](https://longbridge.com/en/quote/83420.HK.md) - [03420.HK](https://longbridge.com/en/quote/03420.HK.md) - [83161.HK](https://longbridge.com/en/quote/83161.HK.md) ## Related News & Research - [Micron Stock Price Bounces Back from a 20% Plunge — What's Fueling the Comeback?](https://longbridge.com/en/news/289044258.md) - [NVIDIA CEO has good news for Micron and SanDisk investors: “The memory shortage to continue for several years”](https://longbridge.com/en/news/289001692.md) - [100 days of the Iran war: How global markets and the economy have been affected, in charts](https://longbridge.com/en/news/288948610.md) - [Zoomlion's Humanoid Robot Z01 Shines at KOMATEK 2026, Showcasing Advances in Embodied AI and Industrial Robotics](https://longbridge.com/en/news/289267560.md) - ['Tokenomics is beginning': The firm behind the viral AI doomsday post says rising costs will reshape the market's hottest trade](https://longbridge.com/en/news/289164774.md)