In his article "Marching Proudly into the New Year", Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region Government, put forth a vision to expedite the development of Hong Kong into a world-class innovation and technology hub, emphasizing the need for collaboration with cities in the Greater Bay Area. He highlighted that Hong Kong should capitalize on its unique strengths to spearhead innovation and technological advancements. A key focus of his proposal is the swift cultivation of the artificial intelligence (AI) sector, which he believes can be achieved by empowering traditional industries through an "AI+" strategy. This approach entails driving development across six crucial dimensions, with computing power being a notable aspect.

Furthermore, Chan pointed out that Hong Kong holds a significant edge in the field of biomedicine. To capitalize on this, he proposed attracting more pharmaceutical companies and research institutions to establish their presence in the city. Additionally, he suggested the implementation of a "first-tier approval" mechanism for the registration of drugs and medical devices. This strategic move aims to cement Hong Kong's status as a regional hub for medical research and development.