How OASES helps enterprises maximize Hong Kong’s strengths

Summary:

• Hong Kong has reclaimed its status as a premier global investment and business hub after a few challenging years.
• The city’s growth is driven by a business-friendly environment, which includes a simple and low tax structure, robust intellectual property protections, a stable common law system, and a “super connector” status that links Chinese mainland markets with global standards.
• OASES, a dedicated government office that has brought in over 100 global leading enterprises, plays a critical role in this recovery by attracting representatives and high-potential innovation and technology enterprises looking to expand into Hong Kong and beyond.
• Unlock the opportunities the city has to offer by connecting with OASES.

Hong Kong’s economy has demonstrated remarkable resilience through recent years, and it’s now powering an economic resurgence as companies continue to flock to the city.

In 2025, it recorded 119 new listings that raised over HK$280 billion (US$35.8 billion), edging out other markets like the US to become the world’s go-to IPO destination.

Under the principle of “one country, two systems,” the city remains an attractive international hub for finance, professional services, and innovation and technology / Photo credit: Unsplash

For instance, Chinese firm Contemporary Amperex Technology (CATL), one of the world’s largest electric vehicle battery manufacturers and a strategic enterprise with the Office for Attracting Strategic Enterprises (OASES), was the second biggest IPO in the world last year, drawing broad investor interest from overseas as well as the Chinese mainland.

There are several factors driving this outcome. Global firms’ ongoing pursuit of expansion and the accelerating tech trends on the Chinese mainland are among them.

Also at work are policies and initiatives by the Hong Kong government, such as OASES. First unveiled to the public in a 2022 Policy Address by John Lee, the city’s chief executive, OASES is part of a wide-ranging plan to “proactively attract leading global enterprises” and investment to Hong Kong.

Representatives from the latest 18 strategic enterprises attended the OASES Enterprises Signing Ceremony on October 9, 2025 / Photo credit: OASES

Much of the office’s focus centers around five strategic industries related to innovation and technology:

• AI and data science
• Advanced manufacturing and new energy tech
• Fintech
• Life and health tech
• Cultural and creative industry

The government office offers one-stop support services to ensure entrepreneurs have everything they need to venture into the city, whether it’s policy alignment, business matching, visa support or market intelligence, says an OASES spokesperson.

What Hong Kong has to offer

Before expanding into the city, businesses should first understand whether its numerous advantages suit their needs. These include:

• A pro-business regulatory environment and robust free trade regime that ranks among the world’s top, which makes it easy to set up new companies and break into new markets
• Hong Kong’s common law system, which offers stability and dependability
• Strong intellectual property protections that safeguard new innovations
• A simple tax structure that boasts one of the lowest corporate tax rates in the world at 16.5%, with value-added or sales tax, capital gains tax, and withholding tax on dividends or interest completely waived

For businesses eager to establish themselves in Hong Kong, these are the three most important factors to consider:

Factor 1: Government policies

Firstly, Hong Kong’s pro-innovation government policies create a strong foundation for tech firms to grow and expand.

One standout initiative is the “1+” mechanism for biomedical firms, which fast-tracks registration of new drugs, vaccines, and advanced therapies with local data and overseas regulatory approval. Separately, since 2021, Hong Kong‑registered drugs and medical devices have also been approved for use in Greater Bay Area (GBA) hospitals, with over 60 drugs and 80 devices cleared across 71 institutions.

Hong Kong’s pro-innovation government policies are building the International Health and Medical Innovation Hub, empowering tech firms to thrive through reforms like the extended “1+” mechanism / Photo credit: OASES

The city is also investing heavily in future industries. The 2025 Policy Address and 2026-27 Budget outline multiple AI‑driven initiatives backed by targeted funding to accelerate industry growth.

With OASES’ one-stop support services, enterprises from all around the globe can get personalized assistance at every step of expanding into Hong Kong. This includes connecting them to government funding schemes such as the Enterprise Support Scheme (ESS) and the Patent Application Grant, which provide R&D funding for eligible companies incorporated in the city. Under the ESS, recipients can get up to HK$10 million (US$1.3 million) in matched funds per approved project.

Factor 2: Talent

Another thing enterprises need to consider to succeed in Hong Kong is the kind of talent they need.

Based on OASES’ experience, most enterprises will need high-caliber talent, ideally in growth sectors like life and health tech, AI, data science, and fintech. Even creatives play a role in driving cultural and artistic innovation forward.

Hong Kong is “uniquely positioned” to meet these demands, as the only city in the world with five universities ranked in the global top 100, including the University of Hong Kong and the Hong Kong University of Science and Technology. The city also boasts diverse talent schemes like the Top Talent Pass Scheme (TTPS) and the Technology Talent Admission Scheme.

Photo credit: Shutterstock

Specifically, the TTPS helps attract skilled professionals and graduates from leading global universities by allowing them to come to Hong Kong without a job offer in hand, giving them time to explore opportunities and connect with employers.

As it stands, OASES’ initiatives will serve as key facilitators for strategic enterprises in the city, underscoring how talent engagement directly drives expansion and impact.

Factor 3: Gateway to China with a global mindset

What makes Hong Kong truly unique is its strategic position in Asia, serving as a vital bridge between international markets and the Chinese mainland. As a core city in the Guangdong-Hong Kong-Macao GBA, it strategically blends international advantages with proximity to the Chinese mainland market, giving enterprises direct access to around 86 million potential customers and the huge markets in the GBA region.

For OASES, however, Hong Kong is more than just a gateway – it’s an international platform where enterprises can align with global standards and connect to markets across Asia and beyond.

CONNECT WITH OASES

 In particular, under the “one country, two systems” framework, Hong Kong has been able to act as a “super connector,” offering access to international networks, regulatory practices, and professional services that meet global benchmarks.

To help businesses tap into Hong Kong’s advantages, OASES provides strategic enterprises with market insights and facilitates connections with key stakeholders who can help open doors to new opportunities and growth.

A platform for success

Though OASES has only been around for a couple of years, the government office has already made a huge impact.

So far, it has brought in 102 enterprises that are expected to invest around HK$60 billion (US$7.7 billion) in the city, creating around 22,000 jobs. About half of these enterprises have been listed in Hong Kong, while over 10% are planning to IPO.

One of them is Keeta, a subsidiary of Chinese food delivery platform Meituan, which launched in Hong Kong in 2023. In the two years since, the city’s food delivery has nearly doubled in size.

In particular, Meituan looked to use the city as a springboard for its global expansion, testing out an international operation model through Keeta, which captured 44% of market share within a year of its launch. It then replicated proven strategies for expansion to other markets like Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Brazil.

For its part, OASES introduced Keeta to Hong Kong’s policy framework, business chambers, and partners, while also assisting with practical needs like employee work visas, helping the enterprise to quickly understand the nuances of operating in the city.

There’s also WeBank, a digital bank that set up its tech company headquarters in Hong Kong in 2024. It plans to invest up to HK$1.17 billion (US$150 million), using the city as a base for R&D activities and to deliver tech solutions for the global arena, particularly across Belt and Road markets.

WeBank acknowledged that government support has enabled the digital bank to recruit highly-skilled local professionals essential for driving its international expansion.

In the span of one year that WeBank has been in Hong Kong, OASES acted as its navigator. Through comprehensive support, OASES has ensured that strategic enterprises not only land successfully in the city but also integrate seamlessly into the local I&T and industry ecosystem.

As Hong Kong enters a new chapter, OASES will continue to guide enterprises in turning the city’s advantages into real growth, leveraging proven success with helping strategic enterprises thrive in Hong Kong and beyond.

With this support, connections, and insights, enterprises can then transform their business ambitions into tangible outcomes, with Hong Kong as the platform for lasting success.

Currency converted from Hong Kong dollar to US dollar: US$1 = HK$7.82.

Established in 2022 under the HKSAR Financial Secretary’s Office, OASES aims to help enterprises leverage all that Hong Kong has to offer in their pursuit of growth opportunities. The government office’s one-stop support services range from tailored facilitation to navigating regulatory approvals and connecting enterprises with industry players, investors, research institutions, academia, and government departments. It also provides a streamlined path for international expansion.

To learn more about how the city can help your business, connect with OASES here.

CONNECT WITH OASES

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.