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Julie Zhang

Investment opportunities in cutting-edge technologies are increasingly concentrated in mainland China and Hong Kong, according to Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC).
As the Hong Kong government’s investment arm, the HKIC aimed to play a stronger role in attracting capital into high-potential projects and scaling investments through broader funding participation, Chan said during a panel session at the Boao Forum for Asia on Friday.
Founded in 2022, the HKIC manages HK$62 billion (US$8 billion) in funds. The firm generated HK$2.34 billion in investment income in 2024, according to its first annual report released in December.
“The company’s internal rate of return has reached double digits. Every HK$1 invested by the HKIC attracted more than HK$8 in follow-on co-investment, much of it sourced from overseas investors,” she said.
More than 50 per cent of HKIC’s investments were in mainland China, about 30 per cent in Hong Kong and around 20 per cent overseas, Chan added.

Beyond capital, the HKIC supports portfolio companies with access to different types of funding, customers and application scenarios.
Chan cited one example: the firm helped a portfolio company, which listed in Hong Kong at the end of last year, expand into international markets. Its products and services were now sold in more than 90 markets worldwide.
Chan cited one example: the firm helped a portfolio company, which listed in Hong Kong at the end of last year, to expand into international markets. Its products and services were now sold in more than 90 markets worldwide.
Projects backed by the HKIC undergo due diligence not only by the fund itself, but also by co-investors, creating a form of mutual endorsement.
Speaking on the sidelines of the forum, Chan said she had recently visited Shanghai and Hainan, focusing on fast-growing, high-impact innovation companies, particularly in areas such as artificial intelligence, life sciences and green energy.
She added that HKIC’s portfolio already included companies from Hainan, with many projects supported through cross-city collaboration.
The fund’s pipeline is starting to show results. SmartMore Corporation, its inaugural investment, filed for a Hong Kong IPO this month, with its AI platforms used by clients including suppliers to Tesla and Apple.
As of February, 10 portfolio companies had listed in Hong Kong, while more than 20 others were planning to submit listing applications this year, according to the HKIC’s website.


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Hong Kong government-backed investor says strong returns and co-investment flows are reinforcing the region’s appeal to global capital


Hong Kong government-backed investor says strong returns and co-investment flows are reinforcing the region’s appeal to global capital.


HKIC chief sees growing opportunities in cutting-edge tech across China and Hong Kong

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Hong Kong government-backed investor says strong returns and co-investment flows are reinforcing the region’s appeal to global capital

Hong Kong government-backed investor says strong returns and co-investment flows are reinforcing the region’s appeal to global capital