Tech park hopes to lure innovation giants

Hong Kong Science and Technology Park, the city's largest innovation and technology center, is considering offering free rentals to international technology giants, its chief said.

If that plan gets the green light from the HKSTP board of directors, it could push Hong Kong a step ahead of Shanghai, China's magnet for global high-tech R&D centers, and change the landscape of innovation development in the country.

HKSTP Chairperson Fanny Law Fan Chiu-fun said the rent-free proposal is tailor-made for tech titans in China and beyond, such as Google and Tencent, attracting them to establish their research and development branches in the park.