HANGZHOU, China, Sept. 29, 2026 /PRNewswire/ — On September 22, the Hong Kong Industry Cooperation Promotion Conference & 9th Hangzhou-Hong Kong-Macao Development Exchange Conference 2026, was held in Hong Kong. Focusing on industrial collaboration and capital matching between Hangzhou and Hong Kong, the event provided a high-level platform for exchange and cooperation.
The previous day, companies including those from the "New Eight Steeds of Hangzhou" (Star.Vision, Sunrise, Rokid, Jinglianwen, Xynova, Nanocorechip, BIBO and Bota Biosciences) showcased their tech innovations including dexterous robotic hands, AI chips and innovative medicines, and held in-depth face-to-face meetings with leading investment institutions including PAG, Goldman Sachs, Gaorong Ventures and Bain Capital to explore cooperation opportunities.
Why did Hangzhou make the trip? The answer lies in tech companies’ need for global expansion. BIBO founder Liu Xiaohui sees capturing overseas markets as crucial; the company plans to achieve overseas mass production of intelligent chassis for international customers by 2028, and use Hong Kong-based international capital to accelerate cross-border M&A. Xynova, already backed by industrial capital, also wants to further link international industrial resources and long-term capital to accelerate the large-scale application of dexterous hands.
What else can Hong Kong bring to Hangzhou? Data shows its significance: in the first eight months of this year, Hangzhou ranked second among China’s sub-provincial-level cities in the actual utilization of foreign investment, with over 70% from Hong Kong.
Economist Guan Qingyou believes Hong Kong capital has experienced three stages in Hangzhou —real estate, industrial investment and tech innovation. In the tech era, international capital places greater value on technological capability and industrial upgrading. "It’s not just that Hangzhou needs Hong Kong — Hong Kong equally needs Hangzhou."
Hangzhou now has the capacity to cultivate breakout tech companies at scale and has become a preferred investment destination for Hong Kong capital. International capital continues to flow into Hangzhou’s deep tech sectors. In 2025, high-tech industries accounted for more than half of Hangzhou’s actually utilized foreign investment, a share that rose to over 68% in the first half of this year.
Meanwhile, more Hangzhou companies are going global leveraging Hong Kong as a springboard: Rokid will open the world’s first unattended self-service experience store at Harbour City, Hong Kong; Leapmotor hopes to use Hong Kong to connect with Southeast Asia and quickly launch upgraded products.
Goldman Sachs said that as an international capital, it can build mature global channels for Hangzhou companies and help them develop European and American customers.
Strong industrial demand and capital needs continue to accelerate substantive Hangzhou-Hong Kong collaboration. The Hangzhou Municipal People’s Government and the Hong Kong Trade Development Council have jointly built a cooperation system featuring ‘one platform, two centers and one fund’. The technology transfer center in Hangzhou and the innovation incubation center in Hong Kong, after more than a year of operation, have landed and transformed 43 cooperation projects.
The ever-widening substantive cooperation channels between Hangzhou and Hong Kong confirms a saying: Hangzhou, without direct access to the sea, has found its "gateway to the sea" in Hong Kong.
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