The head of the government’s investment vehicle said on Sunday the company would undertake more projects and expand strategic partnerships next year to boost Hong Kong’s economy and competitiveness.

Clara Chan, CEO of Hong Kong Investment Corporation, said on a radio show that she would target foreign companies with cutting-edge technology and research capabilities.

Wholly-owned by the government, the company’s mission is to attract foreign talent and businesses to the SAR while helping successful local brands expand globally, Chan said.

“We need to ensure that every dollar we invest creates the most value for Hong Kong. When we evaluate potential investments, we look at two key elements that align with our dual mission,” she said.

“First, we review whether the company meets our financial and operational requirements. Second, we assess its contributions and commitments to Hong Kong, including how they benefit the economy and the public.”

The new energy industry shows great potential and the company helps companies in the sector access Southeast Asian markets, Chan added.

She also said the companies they have invested in are doing better than expected, including an AI research center at the University of Science and Technology that has attracted internationally renowned academics.