Hong Kong Special Administrative Region (HKSAR) has pledged $2 billion to foster innovation and development of technology in its latest annual budget. Previous investments in the high-tech sector are already bearing fruit. A Hong Kong startup developed China's first 5G motion-control humanoid in 2018. Accelerators such as the Hong Kong Science and Technology Park and Cyberport have helped to nurture innovation. 

Today, HKSAR is already a world-leading hub for basic research. Officials say it needs to look across the border to access the huge market potential and high-end production capabilities in the Greater Bay Area.