Space@HK 2030 Report

Facing the period from 2025 to 2030, this report analyzes the current development trend of the space industry and Hong Kong itself, puts forward the specific positioning of Hong Kong around serving the development of the space industry, suggests that relevant work should be carried out from four aspects, and lists the corresponding supporting needs for reference and decision-making of relevant departments of the Hong Kong government.

Observation:

a) the space industry:

i. Regardless of the size of the country, countries in the Asia-Pacific region have formed a broad consensus that aerospace is an important industrial direction for future development, and the formation of an independent industrial ecology is the core goal.

ii. China's achievements in space and its existing industrial capabilities have received widespread attention and recognition, but the geopolitical uncertainty is large and persistent, and cross-border industrial cooperation has become increasingly sensitive and difficult, especially in terms of cooperation between China and other countries.

iii. All countries regard enterprises as an important part of the space sector, which has changed the development model based on government investment in the past, so many enterprises that were not directly engaged in the space industry in the past have joined it, taking space as a new business area and indirectly introducing technology and capabilities outside the traditional space industry.

b) Hong Kong:

i. Finance remains one of the few areas where Hong Kong has international influence.

ii. Hong Kong continues to be able to provide high-quality and wide-ranging professional and international services that are suitable for the interconnection of people, capital, and information.

iii. Only by fully combining the advantages of China's new quality productive forces and serving these fields well can we play an important role in relying on the motherland and connecting the world.

Suggestions for Hong Kong:

a) Talent Training: Referring to some of the existing models and facing the comprehensive education and training needs of space talents in the Asia-Pacific region, professional education and training institutions shall be established, and short-term training courses and master's degree courses can be gradually carried out;

b) Professional Investment: Guide venture capital funds managed by the Hong Kong government and other types of investment funds to focus on the development of the space industry in the Asia-Pacific region, promote cooperation between Hong Kong and commercial space enterprises in the Asia-Pacific region through investment, and attract and encourage commercial space enterprises in the Asia-Pacific region to list in Hong Kong in the future;

c) Information Exchange: Create an annual space industry summit for the pan-Asia-Pacific region, bring together a wide range of space enterprises from mainland China, and provide them with a platform for centralized display and exchange with potential international partners;

d) Professional Services: Leverage Hong Kong's advantages in professional services such as finance and taxation, law, intellectual property, and corporate governance to expand the professional services market for space enterprises.