Ng Teng Fong Charitable Foundation and Sino Group Support Hong Kong’s Innovation and Technology Development
Donation of HK$200 million to Encourage Local AI Research and Applications
HONG KONG, March 11, 2025 /PRNewswire/ — The Ng Teng Fong Charitable Foundation (NTFCF) and Sino Group are dedicated to nurturing talent and cultivating a vibrant innovation and technology ecosystem in Hong Kong. To further this aim and encourage innovative technological applications, as well as to attract and retain more talent, NTFCF and Sino Group have announced a donation of HK$200 million to support the Hong Kong Generative AI Research and Development Center (HKGAI) under InnoHK Research Clusters initiative (InnoHK). This funding will facilitate the further development of locally created artificial intelligence (AI) tools for industry and public use to enhance daily life. The broader application and development of AI technology will nurture ‘new quality productive forces’ in the long run, reinforcing Hong Kong’s position as a leading international hub for innovation and technology.
InnoHK, spearheaded by the Innovation and Technology Commission, is the flagship innovation and technology initiative of the Hong Kong SAR Government to promote global research collaboration and cultivate talents in Hong Kong. Established in 2023 and with the Hong Kong University of Science and Technology (HKUST) as the lead institution, HKGAI is the only centre under InnoHK specialising in generative AI technology, and recently launched Hong Kong’s first AI large language model, HKGAI V1, which is also the first in the industry to be based on the DeepSeek full-parameter fine-tuning research model.
The donation ceremony was attended by notable guests, including Mr Paul Chan, GBM, GBS, MH, JP, FinaLIncial Secretary of the Hong Kong Special Administrative Region; Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry; Ms Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; Mr Ivan Lee, JP, Commissioner for Innovation and Technology; Professor Guo Yike, Provost of the Hong Kong University of Science and Technology and Director of the InnoHK Hong Kong Generative AI Research and Development Center; Mr Daryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group; Ms Nikki Ng, Director of the Ng Teng Fong Charitable Foundation and Director of Philanthropy of Sino Group; Mr David Ng, Director of the Ng Teng Fong Charitable Foundation and Group Associate Director of Sino Group, among others. They joined to express support and hope for the continued development of AI technology in Hong Kong.
Mr Paul Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region expressed his heartfelt gratitude to the Ng Teng Fong Charitable Foundation and Sino Group for their support. He said that currently, AI is undergoing rapid development, which is redefining the core competitiveness of economies and reshaping the medium- to long-term landscape of the global economy. During the third session of the 14th National People’s Congress and the third session of the 14th Chinese People’s Political Consultative Conference National Committee last week, Premier Li Qiang mentioned the need to continue advancing the ‘AI+’ initiative in the Government Work Report, emphasising support for the extensive application of large-scale AI models, as well as the integration of digital technologies with our country’s manufacturing and market strengths. By fostering closer collaboration among the Government and the industry, academia, research and investment sectors, accelerating the development of AI as a core industry of Hong Kong, the city can be developed into an international exchange and co-operation hub for the AI industry.
Professor Harry Shum, BBS, Chairman of the Council of the Hong Kong University of Science and Technology, said, ‘We are immensely grateful to NTFCF and Sino Group for their generous donation to HKGAI. This support will undoubtedly accelerate the development of artificial intelligence in Hong Kong at a faster pace. As the home of HKGAI, we are proud of its achievements and firmly believe that, with the support of the Hong Kong SAR Government and society, HKGAI will continue to contribute positively to the advancement of AI.’
Professor Nancy Ip, SBS, BBS, MH, JP, President of the Hong Kong University of Science and Technology, added, ‘Artificial intelligence is a key focus for our university. We are proud of HKGAI’s milestones and sincerely thank NTFCF and Sino Group for their support. We hope HKGAI can meet the high expectations of the community and continue to achieve breakthroughs. HKUST is committed to providing comprehensive support to advance HKGAI in the field of AI.’
Professor Guo Yike, Provost of the Hong Kong University of Science and Technology and Director of the InnoHK Hong Kong Generative AI Research and Development Center, stated, ‘This generous donation will provide tremendous momentum to our research and development efforts. While expressing our profound gratitude, we are deeply aware of the expectations from Hong Kong society and the responsibilities that lie on our shoulders. Having recently launched our new model HKGAI V1, we are currently fully engaged in developing and optimising this model as well as a series of applications. In particular, we are developing the “HKChat”, a locally developed AI chatbot service to be used by Hong Kong citizens. This donation has provided crucial support for this endeavour. We will strive to ensure our work meets and exceeds the expectations.’
Mr Daryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group, remarked, ‘The Central Government and the Hong Kong SAR Government are committed to promoting innovation and technology while proactively enhancing strategies for AI advancement. Through collaborative efforts across sectors, the acceleration of “new quality productive forces” that leverage Hong Kong’s competitive edge can be achieved. We are pleased to foster the holistic development of the I&T ecosystem, nurturing talent and promoting the exchange and application of technology, and supporting the government’s goal of attracting and encouraging more international talent to Hong Kong. It is an honour to contribute to this significant milestone for AI development in Hong Kong, facilitating that locally developed AI platforms are accessible to both industry and the public. We are thankful for the opportunity to support the development of a more inclusive AI future that will benefit the lives of the people of Hong Kong.’
Sino Group has long promoted a diverse innovation and technology ecosystem, cultivating an innovative spirit from an early age and fostering a culture of innovation and technology. In 2014, the ‘Go Code’ programme was launched to provide free coding courses and robotics classes to over 6,000 underprivileged primary school students over five years. The annual Hong Kong Science Fair, inaugurated in 2021, has provided a platform for young inventors, and has received over 1,500 projects from primary and secondary school students and attracted nearly 70,000 attendees to date.
In addition, the Sino Inno Lab was established in 2018, to serve as a collaborative sandbox for start-ups, inventors, and technology companies from Hong Kong, Mainland China and overseas. This platform showcases proof-of-concept developments and fosters the co-creation of innovative solutions. Last year, Sino Inno Lab relocated to a strategic site in the Northern Metropolis, alongside the establishment of The Spark, which provides an open exchange platform and shared workspace for I&T talents. This initiative enhances collaboration between start-ups and technology companies, solidifying Hong Kong’s role as a vital link between the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and the global market, and thereby opening broader development opportunities for the local innovation and technology sector.
The donation ceremony was attended by notable guests, including Mr Paul Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region (Centre); Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry (Second right); Mr Ivan Lee, JP, Commissioner for Innovation and Technology (First right); Professor Guo Yike, Provost of the Hong Kong University of Science and Technology and Director of the InnoHK Hong Kong Generative AI Research and Development Center (Third right); Mr Daryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group (Third left); Ms Nikki Ng, Director of the Ng Teng Fong Charitable Foundation and Director of Philanthropy of Sino Group (Second left); Mr David Ng, Director of the Ng Teng Fong Charitable Foundation and Group Associate Director of Sino Group (First left), to express support and hope for the continued the development of AI technology in Hong Kong.
The Hong Kong Science Fair, inaugurated in 2021, has provided a platform for young inventors and has received over 1,500 projects from primary and secondary school students, attracting nearly 70,000 attendees to date. The fourth Hong Kong Science Fair will be held from June 28 to 29 at the Hong Kong Convention and Exhibition Centre.
Sino Inno Lab and The Spark, located in a strategic site in the Northern Metropolis, aim to enhance collaboration between start-ups and technology companies, solidifying Hong Kong’s role as a vital link between the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and the global market.
About Sino Group
Established in 1971, Sino Group comprises three listed companies – Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247), Sino Hotels (Holdings) Limited (HKSE: 1221) – and private companies held by the Ng Family.
As one of Hong Kong’s leading property developers with core businesses in property development and investment, Sino Group has grown with the communities it serves. The Group’s business interests comprise a diversified portfolio of residential, office, industrial, retail and hospitality properties across Hong Kong, mainland China, Singapore and Australia, and has developed over 250 projects, spanning more than 130 million square feet. Core business assets are further complemented by property management services, hotel investment and management, including The Fullerton Hotels & Resorts and other affiliate brands.
With over 11,000 committed staff members, the Group strives to fulfil its vision of Creating Better Lifescapes with a focus on three interconnected pillars – Green Living, Community Spirit and Innovative Design – shaping the cities we call home where people live, work and play. Sustainability is central to what we do as we seek to create value for stakeholders and make business a driver of sustainability for a better future.
The Ng Teng Fong Charitable Foundation was established in 2010 in memory of the late founder of the Sino Group, Mr Ng Teng Fong. The Foundation steadfastly advocates education, youth development and community services. In the past years, the Ng Teng Fong Charitable Foundation has supported over 300 local NGOs and community partners. In addition to supporting good causes such as the Hong Kong Arts Festival, the National Gallery of Singapore as well as restoration of the Great Wall and Yanxi Gong, the Foundation provides financial assistance for students from less-resourced families in Hong Kong and mainland China through the Ng Teng Fong Scholarships. It also supports scholastic initiatives of Peking University, Tsinghua University and Zhejiang University in mainland China as well as the National University of Singapore, Singapore University of Technology and Design and Nanyang Technological University in Singapore.
West Coast flyers can take advantage of a new nonstop route to Asia. Well, not new exactly. As of March 30, Cathay Pacific has relaunched flights between its home hub of Hong Kong International Airport (HKG) and Seattle-Tacoma International Airport (SEA). MOLLY BAILEY-ANDRADE The airline previously operated this route from April 2019 until November 2020,
A housewife in Hong Kong has lost nearly HK$2.5 million (US$320,500) in an online shopping scam after she tried to buy collagen drinks for HK$530, according to police. The victim saw a Facebook post advertising collagen drinks and transferred HK$530 via Faster Payment System, police said on their CyberDefender Facebook page. The seller later claimed
Staff at the property management company at Hong Kong’s inferno-ravaged Wang Fuk Court housing estate acted with disregard for legal requirements, taking such actions as deactivating the fire safety system despite knowing they needed a registered contractor to do so, an evidential hearing has been told. Victor Dawes, lead counsel for an independent committee investigating
Four of 15 Hong Kong public primary schools at risk of closure due to insufficient enrolment plan to shut down, while nine are seeking to merge with other institutions, the Education Bureau has said. One intended to run Primary One classes privately from the coming school year, it said. The bureau said four schools would
The head of Hong Kong’s government investment agency has been appointed as a director of a global organisation that brings together leading firms and investors, marking the first time a Chinese sovereign wealth fund has held a seat on the board. FCLTGlobal announced on Wednesday that Clara Chan Ka-chai, CEO of the Hong Kong Investment
A US church that co-founded a prestigious Hong Kong international school has said it will take the lead in searching for a new head as the operator had failed to nominate candidates since 2022, accusing it of creating the “risk of leadership interruption” in the latest salvo in a war of words. The move by
There is a moment, twice a year, when, depending on which hemisphere you’re in, the sun reaches its northernmost or southernmost limit and briefly holds still before reversing course. ZS Hospitality Group – the force behind Hong Kong’s lauded Hansik Goo and Ying Jee Club – has taken this astronomical pause as the creative conceit
Coface, a provider of credit insurance and risk management solutions, has announced the appointment of Carmen Chow as Head of Commercial for Hong Kong, effective 1st April 2026. In her new role, Chow will be responsible for strengthening Coface’s commercial performance strategy and deepening client engagement in the Hong Kong market. She will report to
TLDR Hong Kong has not issued any HKD stablecoin licenses after the March target passed. Financial Secretary Paul Chan Mo-po said authorities would begin issuing licenses in March. The Hong Kong Monetary Authority has not announced any approved stablecoin issuers. An HKMA spokesperson said the authority is actively advancing the licensing process. Reports suggested HSBC
Hong Kong’s security minister has revealed that authorities are reviewing fire safety laws to expand enforcement powers and toughen penalties as part of a broader crackdown on illegal fuel sales in the city amid surging global oil prices. Secretary for Security Chris Tang Ping-keung said on Wednesday the government’s review included possible penalty increases, expanding
A Shenzhen-based tech firm taking part in Hong Kong trade fairs is leveraging the city as a springboard for global expansion, with plans to list locally this year while using its computing power to help enter the North American market. Robert Chan Kwok-cheung, global strategy officer at EngineAI, said on Wednesday the company’s presence in
A permanent exhibition showcasing Hong Kong’s history reopened on Wednesday after a major revamp that emphasised the city’s roots in Chinese culture, with visitors expressing mixed reactions to the changes. The “Hong Kong Story” exhibition – which opened in 2001 and closed for renovation in late 2020 – has been reduced from two storeys to
Hong Kong SAR, China can re-establish itself as a go-to destination for international travellers by investing in key source markets, new World Travel & Tourism Council (WTTC) research reveals. The WTTC report ‘Travel & Tourism in Hong Kong SAR, China: Recovery, Gaps, and the Road Ahead’ recommends that the city expand its reach into higher-yield
Hong Kong’s retail sales jumped by nearly 12 per cent in the first two months of 2026 against a year ago, with authorities pointing to growth in the local economy and a surge in tourists. Provisional figures released by the Census and Statistics Department on Wednesday showed retail sales reached HK$35 billion (US$4.47 billion) in
Prime office supply in mainland Chinese cities and Hong Kong is estimated to peak this year, while demand remains hampered by an economic slowdown and global uncertainties, according to Cushman & Wakefield. At the end of 2025, premium office inventory in 21 major cities in Greater China – including Hong Kong, Beijing, Shanghai, Shenzhen and
Hong Kong International Airport has been voted the world’s best airport, along with accolades recognising its security standards and facilities. An Airport Authority spokesman said on Wednesday that the city’s airport had clinched the title of “Best Airport in the World” from Global Travel Awards this year. The awards recognise the best hotels, airports, airlines,
The parent company of Hong Kong online retailer HKTVmall has defended its life science project involving testing the viability of detached animal heads and limbs, responding to animal ethics concerns by saying no pet animals were experimented on. Hong Kong Technology Venture Company Limited revealed the project on Monday in its annual results, and said
Some Hong Kong taxi drivers have yet to install e-payment options even after the city’s new mandatory electronic payment for taxis went into effect, highlighting a digital divide challenge facing cabbies, the South China Morning Post has observed. Starting on 1 April, the Transport Department mandated all drivers to offer passengers at least two electronic
This article was first published on April 2, 2016. by Eddie Lee Staff, fans bid farewell to broadcaster It was finally curtains for Asia Television last night (April 1, 2016) after a couple of near-shutdowns last month and one dramatic twist after another to the embattled station’s chequered final episode. Just before the stroke of
The seventh session of the independent inquiry into last year’s fire at Wang Fuk Court – Hong Kong’s deadliest in decades – is under way with the focus turning to ISS EastPoint, the estate’s property management firm. The blaze, which started on November 26 last year and raged through seven of Wang Fuk Court’s eight
