Hong Kong eyes slice of booming ‘NewSpace’ economy as professional services hub
The article, titled “Hong Kong eyes slice of booming ‘NewSpace’ economy as professional services hub” by Lo Hoi-ying, was published in the South China Morning Post on January 19, 2026.
Hong Kong seeks to capture opportunities in the rapidly expanding NewSpace sector—private-led satellite manufacturing, launches, space law, tourism, and low Earth orbit activities—by positioning itself as a global hub for professional services such as finance, insurance, legal, and arbitration, plus materials applications. This aligns with China’s 15th Five-Year Plan (2026-2030) to become a space power.
The Chief Executive’s Policy Unit recently hosted a high-level roundtable with academics, investors, mainland and overseas experts, including Prof Quentin Parker (柏坤霆教授), who stressed urgency due to space debris risks (e.g., Kessler syndrome and a recent Tiangong incident). Attendees highlighted Hong Kong’s strengths in common law, financial hub status, and internationalization.
The 2025 Policy Address supports this via InnoHK’s Space Robotics and Energy Centre and over HK$100 million for aerospace R&D. The global space economy is projected to grow from US$630 billion (2023) to US$1.8 trillion by 2035. Experts urge swift establishment of a dedicated space office to avoid missing the window.
The full article can be viewed here: