Latest news with #HongKongInvestmentCorporation
RTHK
22-05-2025
- Business
- RTHK
HKIC says some firms in its portfolio have IPO plans
HKIC says some firms in its portfolio have IPO plans HKIC chief executive Clara Chan says about five to 10 firms it has invested in are considering listing in Hong Kong this year. Photo: RTHK The SAR government investment vehicle on Thursday revealed that several of the companies it has invested in are considering or have filed applications to list in Hong Kong this year. It did not specify which firms. This came as the Hong Kong Investment Corporation (HKIC) hosted its inaugural "International Forum for Patient Capital (IPC)" to attract global funds to invest in the city. Speaking to reporters after the event, HKIC's chief executive, Clara Chan, said that of the 100 projects in the body's portfolio, about five to 10 have expressed an interest in or have already filed an application to list in the city this year. She said that the speed of such progress has been impressive and came much faster than anticipated, adding that the firms are also rapidly growing and seek overseas market potential. The firms with initial public offering plans are "Hong Kong representatives" and HKIC will assist them during the process while attracting more firms to set up shop here, Chan added. "For every HK$1 invested by HKIC, it can now generate over HK$4 in the long-term follow-up investment funds, which is a further improvement compared to the past," she said. Separately, Chan said that the IPC has brought together some 400 representatives from 80 global patient capital institutions, or organisations focusing on long-term growth, with total asset management amounting to over US$20 trillion. "They are very diverse because patient capital institutions cover a wide range of different entities, for example, civil funds, pension plans, family officers and university endowments. "A lot of them are really action-oriented, and they're very low profile, noting the various geopolitical considerations, but at the same time, they really want to capture the growth trends in this part of the world". Chan said the participants cover developed markets such as the US, Europe, Australia, Japan, and also a number of Global South markets, including the Middle East and Southeast Asia. Many of the institutions are interested in investment opportunities in innovation and technological development on the mainland and Hong Kong, such as artificial intelligence and robotics, which aligns with HKIC's investment portfolio, said Chan.
RTHK
22-05-2025
- Business
- RTHK
HKIC says some firms in its portfolio have IPO plans
HKIC says some firms in its portfolio have IPO plans HKIC chief executive Clara Chan says about five to 10 firms it has invested in are considering listing in Hong Kong this year. Photo: RTHK The SAR government investment vehicle on Thursday revealed that several of the companies it has invested in are considering or have filed applications to list in Hong Kong this year. It did not specify which firms. This came as the Hong Kong Investment Corporation (HKIC) hosted its inaugural "International Forum for Patient Capital (IPC)" to attract global funds to invest in the city. Speaking to reporters after the event, HKIC's chief executive, Clara Chan, said that of the 100 projects in the body's portfolio, about five to 10 have expressed an interest in or have already filed an application to list in the city this year. She said that the speed of such progress has been impressive and came much faster than anticipated, adding that the firms are also rapidly growing and seek overseas market potential. The firms with initial public offering plans are "Hong Kong representatives" and HKIC will assist them during the process while attracting more firms to set up shop here, Chan added. "For every HK$1 invested by HKIC, it can now generate over HK$4 in the long-term follow-up investment funds, which is a further improvement compared to the past," she said. Separately, Chan said that the IPC has brought together some 400 representatives from 80 global patient capital institutions, or organisations focusing on long-term growth, with total asset management amounting to over US$20 trillion. "They are very diverse because patient capital institutions cover a wide range of different entities, for example, civil funds, pension plans, family officers and university endowments. "A lot of them are really action-oriented, and they're very low profile, noting the various geopolitical considerations, but at the same time, they really want to capture the growth trends in this part of the world". Chan said the participants cover developed markets such as the US, Europe, Australia, Japan, and also a number of Global South markets, including the Middle East and Southeast Asia. Many of the institutions are interested in investment opportunities in innovation and technological development on the mainland and Hong Kong, such as artificial intelligence and robotics, which aligns with HKIC's investment portfolio, said Chan.
South China Morning Post
21-03-2025
- Business
- South China Morning Post
Hong Kong investment arm backs Chinese RISC-V start-up StarFive in tech push
Shanghai-based semiconductor start-up StarFive aims to boost adoption of its chips with the financial backing of the Hong Kong government, according to its founder, as China bets on the open-source RISC-V architecture to strengthen its chip industry amid escalating tensions with the US. Advertisement The six-year-old RISC-V chipmaker secured an undisclosed sum from the Hong Kong Investment Corporation (HKIC) , the government arm in charge of managing HK$62 billion (US$8 billion) of funds to foster innovation in the city, the two parties said on Friday. The partnership would see Hong Kong support StarFive in rolling out RISC-V chip applications in the city, founder and CEO Thomas Xu Tao said in an interview. 'RISC-V has moved beyond its initial phase of foundational research … Its current focus is on real-world applications,' Xu said. 'Implementing use cases is actually really difficult in the early stages and needs government guidance.' RISC-V, pronounced 'risk five', is an open-source instruction set architecture that allows developers to configure and customise their chip designs. It competes with Intel's x86 and Arm Holdings' architecture, which dominate the personal computer and smartphone markets, respectively. China has been investing heavily on RISC-V, an open-source hardware instruction set architecture. Photo: Shutterstock While RISC-V is not as widely used as Arm or x86, and most of its products still lag in performance, its open-source code base and energy efficiency have contributed to its growing popularity in recent years.
South China Morning Post
16-03-2025
- Business
- South China Morning Post
Hong Kong's investment arm to unveil tie-up with firm specialising in RISC-V tech
The Hong Kong government's investment arm will unveil a partnership with a company specialising in open-source RISC-V chip technology on Friday and later host a joint summit. Advertisement Financial Secretary Paul Chan Mo-po said on Sunday the partnership to be announced by the government-owned Hong Kong Investment Corporation would help accelerate the development of related industries and cultivate talent locally. He reiterated the need for tech professionals to drive economic growth, expressing hope that more companies would develop young talent in the city. Writing on his weekly blog, Chan underscored the potential of RISC-V chips, following a flurry of announcements related to artificial intelligence in his budget address last month. RISC-V, or the fifth generation of the reduced instruction set computer, is an open-source chip architecture that can be used for central processing units (CPUs) in electronic products such as personal computers and smartphones. Advertisement It has gained traction in mainland China, where the government and businesses hope it can reduce reliance on foreign proprietary technology, such as Intel's x86 and Arm's eponymous architecture, amid an intense tech war with the US.
South China Morning Post
11-03-2025
- Business
- South China Morning Post
France and Hong Kong can tap AI possibilities together, top diplomat says
Artificial intelligence (AI) has opened up new opportunities for business and academic exchanges between France and Hong Kong, the country's top diplomat to the city has said. Advertisement French Consul General Christile Drulhe was confident the city would attract talent and businesses if it refocused on the economy after having concentrated on national security in recent years. While the French community in Hong Kong was smaller than before the Covid-19 pandemic, the French still believed the city offered many opportunities as a major financial hub, she told the Post. Financial Secretary Paul Chan Mo-po made AI a centrepiece of his budget address last month, outlining a slew of investments in the sector, including HK$1 billion (US$128.7 million) to establish the Hong Kong AI Research and Development Institute. French President Emmanuel Macron also announced €109 billion (US$118 billion) worth of investment pledges involving the fast-changing technology last month during a meeting of world leaders and tech experts who gathered in Paris to discuss AI governance. Finance chief Paul Chan watches a robot demonstration at launch ceremony for Hong Kong Investment Corporation and Galbot related to their joint push in AI at the Island Shangri-La. Photo: Dickson Lee Speaking to the Post, Drulhe said the two-day summit should create conditions for investment opportunities, as well as business and academic exchanges, between Hong Kong and France.
