“Innovation needs capital, and Hong Kong is where capital and ideas meet,” the city’s Financial Secretary Paul Chan Mo-po said as Hong Kong sought to reinforce its position as a regional technology and fundraising hub during the inaugural LEAP East conference.
The three-day LEAP East 2026 summit, held from July 8 to July 10 at the Hong Kong Convention and Exhibition Centre, attracted more than 35,000 technology professionals, policymakers and investors from 30 countries and regions, according to the Hong Kong government.
The event featured more than 340 speakers, 450 exhibitors and over 400 investors focused on artificial intelligence, deep technology, smart cities and new energy industries.
The conference marked the first time the LEAP technology summit, originally launched in Saudi Arabia, has been held outside the kingdom. Chan said the event would continue to be hosted in Hong Kong over the next three years.
Speaking at the opening ceremony, Chan said Hong Kong’s common law system, intellectual property protections, free-port status and simple tax regime make it well positioned to connect global investors with opportunities in mainland China and beyond.
“Hong Kong is perhaps the only city in the world that connects seamlessly to both the Chinese Mainland and the rest of the world at the same time,” he said.
Chan urged Saudi Arabian and Gulf companies to use Hong Kong as an international fundraising and risk-management platform, saying the city aims to deepen cooperation in innovation, infrastructure, green technology, healthcare, advanced manufacturing, and professional services.
He also said he plans to lead a Hong Kong business delegation to Saudi Arabia later this year, comprising companies from infrastructure, green technology, healthcare, and advanced manufacturing sectors, alongside finance and professional services firms, to pursue investment opportunities.
Sun Dong said Hong Kong’s innovation sector has expanded rapidly, with the number of startups rising 40% since 2021 to about 5,200 in 2025.
Sun said the Shenzhen-Hong Kong-Guangzhou innovation cluster ranked first globally in the 2025 Global Innovation Index, while Hong Kong ranked fourth in the World Digital Competitiveness Ranking 2025 and second in the World Competitiveness Yearbook 2026.
He also highlighted Hong Kong’s capital markets, saying the city led the world in initial public offerings in 2025 with 119 listings raising about $35 billion, including several technology companies.
Sun met Saudi Arabia’s Abdullah Alswaha during the event to discuss expanding technology cooperation between Hong Kong and the Gulf kingdom.
The conference reflects closer economic and innovation ties between Hong Kong and Saudi Arabia as both governments seek to increase cross-border investment and technology collaboration.