ASTRI Endorses 2026-27 Budget, Enhances Focus on Innovation

The Hong Kong Applied Science and Technology Research Institute (ASTRI) expressed strong support for the 2026-27 Budget announced on February 25, 2026, by the Financial Secretary. This budget emphasizes the government’s commitment to enhancing sectors such as artificial intelligence (AI), life and health technologies, new industrialization, and green technologies, which align closely with ASTRI’s core research and development (R&D) initiatives.

Ir Prof Sunny Lee, Board Chairman of ASTRI, highlighted the significance of the National 15th Five-Year Plan, marking the start of a new era for Hong Kong’s innovation and technology (I&T) landscape. He welcomed the allocation of additional resources aimed at fostering I&T growth, talent development, and attracting global investments. These efforts are expected to accelerate the application of research outcomes, thereby promoting high-quality economic growth.

Strategic Expansion of R&D Focus

In a notable move, ASTRI plans to merge with the Nano and Advanced Materials Institute (NAMI) in April. This merger will expand its R&D scope to include advanced materials, new energy, and green technologies. These areas are in line with both national and local government priorities.

Ir Prof Sunny Lee emphasized the importance of leveraging ASTRI’s strengths in technology and commercialization. The aim is to foster collaboration across the technology supply chain, effectively shortening the time it takes for innovations to reach market readiness. “This will deliver practical solutions across industries, enhance overall competitiveness, and drive Hong Kong’s economic growth,” he stated.

The budget also outlined various measures to attract investment and talent, reinforcing Hong Kong’s role as a vital link between the Chinese Mainland and international markets. The government’s refined tax regime and institutional framework aim to enhance economic growth through the promotion of intellectual property (IP) trading and financing.

Supporting Enterprises and Technology Transfer

Ir Dr Ted Suen, Chief Executive Officer of ASTRI, applauded the budget’s comprehensive support for I&T development. He noted that the initiatives encompass infrastructure investment, technological advancement, talent development, and broader I&T adoption across various sectors. This approach aims to elevate Hong Kong’s competitiveness on the global stage.

ASTRI boasts a wealth of experience in technological research and development, as well as in aligning with international standards. To date, the institute has secured approximately 1,200 patents and successfully transferred around 1,600 technologies to industries. These accomplishments position ASTRI to provide extensive technical support to enterprises, particularly in the realm of IP collaboration.

Additionally, ASTRI’s collaboration with enterprises in the Greater Bay Area, facilitated through its Shenzhen office, opens up further opportunities for technology testing and application. The establishment of technology transfer and commercialization centers in Beijing and Suzhou aims to promote local technologies in both the Chinese Mainland and overseas markets.

The anticipated merger with NAMI is expected to enhance ASTRI’s capabilities, enabling it to develop technologies and innovative applications that support smart city initiatives and drive industrial innovation. These developments include AI+ solutions for various sectors, advancements in smart communications essential for the low-altitude economy and autonomous driving, and creation of advanced chips and IoT technologies for smart factories and robotics.

As ASTRI continues to align its strategies with government priorities, its role in fostering innovation and technology in Hong Kong will likely expand, reinforcing the region’s position as a global leader in I&T. For more information about ASTRI’s initiatives and achievements, visit [www.astri.org](http://www.astri.org).