China's current five-year plan aims to help Hong Kong become an international center for innovation and technology. In 2021, Hong Kong ranked 14th on the Global Innovation Index. Hong Kong is host to 16 of the country's leading laboratories and dozens of members of the Chinese Academy of Sciences and the Chinese Academy of Engineering. Professor Wong Kam Fai, associate dean of the faculty of engineering at the Chinese University of Hong Kong, says start-ups will benefit most from central government support.