China's Hong Kong Special Administrative Region, long seen as one of Asia's financial hubs, has witnessed rapid development in the area of technological innovation. The Hong Kong Science and Technology Parks (HKSTP) is the largest research and development center in the region. As of June 2022, there are more than 1,100 innovation and technology companies in HKSTP, with over 11,000 R&D staff, and more than 870 companies have graduated from its incubation program.