Hong Kong Investment Arm to Unveil 2 New Innovation Projects in Next 2 Months: Paul Chan

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"If we continue to pave the way, we will see a very attractive Hong Kong."

That's the message from the city's finance minister, who says the government will announce two new deals in the next two months related to medical technology and green development, the South China Morning Post reports.

"There will be announcements [of more deals] in the next two months, one related to medical health and one related to green development," Paul Chan said in a radio interview Sunday.

Chan didn't give any details on the deals, but he said Hong Kong Investment Corporation, the government's investment vehicle, has struck deals with "home-grown unicorn tech company SmartMore" and artificial intelligence firm BioMap.

Hong Kong is trying to boost its status as a business hub, continuing its push to inject optimism over the economy amid a gloomy outlook.

Since late 2022, Chan said, about 50 key corporate partners have either settled in Hong Kong or expanded their businesses in the city, investing more than $40 billion and creating 13,000 jobs.

"Some say Hong Kong is losing its status as a financial center and there is a capital exodus," Chan said.

"But the fact is that we saw a growth in total deposits in 2023, total deposits and Hong Kong dollar deposits grew

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