The government of Hong Kong has introduced a novel statistical domain aimed at supporting the growth of manufacturing and industries linked to new industrialization. This initiative comes after these sectors experienced a significant 7.6% year-on-year expansion in 2023. Developed collaboratively by the Innovation, Technology & Industry Bureau (ITIB) and the Census & Statistics Department (C&SD), this domain seeks to capture the economic contributions of emerging industries through an enhanced statistical framework. It aligns with the existing Hong Kong Standard Industrial Classification Version 2.0, ensuring comprehensive coverage of relevant activities.

Underpinning this effort is the recognition that modern manufacturing encompasses more than traditional production processes. It now involves a wide array of activities such as product design, technological advancement, data services, software development, testing, certification, and professional consultancy. To ensure accurate reflection of these evolving dynamics, the C&SD has meticulously defined the corresponding statistical boundaries.

In a statement, Professor Sun Dong, Secretary for Innovation, Technology, and Industry, emphasized the importance of clear data in guiding policy decisions during Hong Kong's ongoing economic transformation. He highlighted the necessity of identifying specific economic activities to channel social resources effectively towards upgrading traditional manufacturing and fostering innovation. The government plans to periodically review and refine these classifications to stay abreast of rapid technological changes and emerging industry trends.

This forward-thinking approach underscores the commitment of Hong Kong’s authorities to maintaining a robust and adaptive statistical system. By continuously collaborating with ITIB and other key players, the C&SD aims to keep its framework current and relevant. Such efforts will not only support the growth of existing industries but also pave the way for new opportunities in the realm of advanced manufacturing and technology-driven enterprises.

Hong Kong's introduction of this new statistical domain represents a pivotal step in aligning its economic strategies with global advancements in technology and industrial practices. Through precise data collection and analysis, the region can better allocate resources and formulate policies that promote sustainable growth and innovation across various sectors. This initiative promises to play a crucial role in shaping the future of Hong Kong's economy, ensuring it remains competitive on the world stage.