At the recent Hangzhou-Hong Kong-Macao Development Exchange Conference, Hangzhou tech firms deepened cooperation with Hong Kong investors to boost global market access and cross-border innovation.
- Hangzhou tech firms engage Hong Kong investors for global expansion.
- Hong Kong capital increasingly targets Hangzhou's high-tech sectors.
- Joint platforms facilitate tech transfer and innovation incubation.
What happened
On September 22, the Hong Kong Industry Cooperation Promotion Conference and 9th Hangzhou-Hong Kong-Macao Development Exchange Conference 2026 convened in Hong Kong. The event focused on fostering industrial collaboration and capital matching between Hangzhou and Hong Kong. Several Hangzhou-based tech companies, dubbed the 'New Eight Steeds,' demonstrated their innovations spanning robotics, AI chips, and biomedicine. These firms held extensive dialogues with prominent investors such as Goldman Sachs, PAG, Gaorong Ventures, and Bain Capital.
The conference provided a pivotal platform for Hangzhou companies to chart pathways for international market penetration and capital acquisition. Firms like BIBO plan to commence overseas mass production of intelligent chassis by 2028, leveraging Hong Kong's international financial market to facilitate cross-border mergers and acquisitions. Xynova likewise seeks to utilize Hong Kong resources to scale up the deployment of dexterous robotic hands globally.
Why it matters
Hong Kong plays a crucial role as a conduit for foreign investment into Hangzhou, accounting for over 70% of the city's actual foreign investment utilization in the first eight months of 2026. This inflow primarily targets high-tech industries, which made up more than two-thirds of Hangzhou's foreign investment by mid-2026. The evolving capital dynamics reflect a shift from traditional real estate investments to technology-driven industrial upgrading.
This symbiotic relationship benefits both regions: Hong Kong gains by deepening its strategic ties with a top-tier tech hub, while Hangzhou secures much-needed international capital and market access. Economist Guan Qingyou underlines that, especially in a tech-driven era, international investors increasingly prioritize technological innovation and industrial modernization, making Hangzhou an attractive destination for sophisticated global capital.
What to watch next
Looking forward, Hangzhou's collaboration with Hong Kong is expected to intensify through established cooperation frameworks such as the joint 'one platform, two centers, and one fund' system. Early results are promising, with 43 technology transfer and innovation projects already launched under this joint initiative. These developments will likely accelerate the global scaling of Hangzhou’s tech companies.
Additionally, companies like Rokid and Leapmotor are set to use Hong Kong as a strategic launchpad for expanding into markets in Southeast Asia, Europe, and the Americas. International investors, including Goldman Sachs, are poised to facilitate these expansions by providing access to mature global distribution and customer channels. The evolving Hangzhou-Hong Kong partnership is shaping into a key driver for China’s tech globalization efforts.