Hong Kong Announces HK$3B AI Subsidy Program, Pledges 36x Computing Power Increase by 2032

According to Financial Secretary Paul Chan on June 7, Hong Kong is expanding AI infrastructure, subsidies, and training to strengthen competitiveness. The Sandy Ridge Data Facility Cluster, a 10-hectare site in the Northern Metropolis, is under construction and will be operated by Range Intelligent Computing Technology, expected to deliver 180,000 petaflops by 2032—36 times Hong Kong's current computing capacity of 5,000 petaflops.

Chan announced that an AI subsidy scheme has approved over 30 projects with a HK$3 billion budget over three years, covering up to 70% of service costs for eligible institutions, research centers, and companies. Additionally, the government allocated HK$50 million for over 200 AI training events in the next two fiscal years and HK$300 million to strengthen a pilot program helping small and medium-sized enterprises adopt AI and cybersecurity tools.