HKIC | The Hong Kong Investment Corporation Limited

Hong Kong Investment Corporation Limited

Introduction

The Hong Kong Investment Corporation Limited (HKIC) is wholly owned by the Government of the Hong Kong Special Administrative Region. The HKIC consolidates the management of the investment activities of the “Hong Kong Growth Portfolio”, “Greater Bay Area Investment Fund”, “Strategic Tech Fund”, and “Co-Investment Fund”. The objectives of the HKIC are to identify investment opportunities and strategically promote development of target industries, so as to enhance the long-term competitiveness and economic vitality of Hong Kong while generating investment return. In this regard, it pools together relevant resources under the steer of the Government to attract and support foreign and local enterprises to further develop Hong Kong.

Background

Hong Kong Investment Corporation Limited

In the 2022 Policy Address, the Chief Executive announced the establishment of the HKIC to further optimize the use of financial reserves for promoting the development of industries and the economy. In this regard, the HKIC is established to manage the investment activities of the Hong Kong Growth Portfolio, the Greater Bay Area Investment Fund, the Strategic Tech Fund, and the Co-Investment Fund, for attracting and supporting enterprises to develop their business in Hong Kong.

Hong Kong Growth Portfolio

In the 2020-21 Budget Speech, the Financial Secretary announced that he would establish the “Hong Kong Growth Portfolio” to make strategic investments in projects with a Hong Kong nexus. In the 2022-23 Budget Speech, the Financial Secretary announced that he would increase the funding allocated to the existing target size of HK$22 billion “Hong Kong Growth Portfolio” by HK$10 billion, of which HK$5 billion would be used to set up the “Strategic Tech Fund” and the remaining HK$5 billion would be used to set up the “Greater Bay Area Investment Fund”.

Co-Investment Fund

It was announced in the Chief Executive’s 2022 Policy Address that the Government would establish the HK$30 billion “Co-Investment Fund” for attracting enterprises to set up operations in Hong Kong and investing in their business.

Governance

The composition of the Board of Directors of the HKIC is as follows:

Chairman :

  • Financial Secretary

Members :

  • Deputy Financial Secretary
  • Secretary for Financial Services and the Treasury
  • Secretary for Innovation, Technology and Industry
  • Secretary for Commerce and Economic Development
  • Chief Executive, Hong Kong Monetary Authority
  • Deputy Chief Executive, Hong Kong Monetary Authority
  • Chief Executive Officer, Hong Kong Investment Corporation
  • Dr Victor Fung
  • Professor Lawrence Lau
  • Dr James Lin
  • Mr Carlson Tong

The Board of Directors is responsible for the oversight of the HKIC and gives guidance on relevant areas such as the investment strategy, and the procedures and criteria for identifying investment partners or targets. To assist the Board of Directors in discharging its duties, the Investment Committee, the Remuneration Committee, and the Audit Committee have been established.

For More Information

For more information on the establishment of the HKIC, please visit the following websites/ linked documents:

Relevant background information

Relevant press releases

The HKIC webpage is still under development and further information will be provided at a later stage.