$25.7 million gift from Robert and Daryl Ng to help launch public dialogue services for locally developed generative AI model
Hong Kong must capitalize on the rapid advancements in artificial intelligence (AI) to maintain its competitive edge, Financial Secretary Paul Chan Mo-po emphasized at a donation ceremony recently.
His remarks came as the Ng Teng Fong Charitable Foundation and Sino Group committed $25.7 million to support the Hong Kong Generative AI Research and Development Center (HKGAI) under the InnoHK Research Clusters initiative.
“AI is not just a critical industry on its own. It’s a powerful tool that can enhance and integrate deeply into various sectors,” Chan said at the Central Government Offices in Tamar.
He cited the central government’s recent Two Sessions work report in Beijing, which called for accelerating the “AI Plus” initiative and expanding the use of AI models across industries. Chan underscored Hong Kong’s unique positioning as an AI research and development hub, highlighting its world-class universities, strong financial sector, and talent pool.
“Three of our local universities are ranked among the top 25 globally in AI and data science disciplines,” Chan said. “As a global financial hub and a magnet for top-tier talent, Hong Kong has the resources and expertise to drive AI innovation.”
The donation was spearheaded by Daryl Ng Win-kong, deputy chairman of Sino Group and director of the Ng Teng Fong Charitable Foundation, who reiterated the family’s long-standing commitment to innovation and technological progress in Hong Kong.
“We are proud to support Hong Kong’s ambitions in AI and contribute to the city’s digital transformation,” said Ng. “These funds will play a pivotal role in launching public dialogue services for HKGAI V1, the first generative AI model developed in Hong Kong.”
The Ng family, one of Asia’s most influential real estate dynasties, has played a crucial role in Hong Kong’s economic landscape. The late Ng Teng Fong, the family’s patriarch, was the founder of Sino Group, one of Hong Kong’s largest property developers.
Under his leadership, the company expanded into Singapore through Far East Organization, making the Ng family one of Asia’s largest real estate powerhouses.
Daryl Ng, the second-generation leader, has been a strong advocate for innovation, sustainability, and technological advancement. The Ng Teng Fong Charitable Foundation, established to honor the late Ng Teng Fong’s legacy, has funded numerous education, medical research, and social welfare projects across Hong Kong, Singapore, and mainland China.
Professor Guo Yike, provost of the Hong Kong University of Science and Technology (HKUST) and director of HKGAI, detailed how the funds would be utilized.
“We will use the donation to bolster the AI ecosystem, enhance high-security computing power and data platforms, and further develop the HKGAI model for practical applications,” Guo explained.
The initiative aligns with Hong Kong’s broader ambition to position itself as a leading AI research hub in Asia. HKGAI, a key player in the city’s AI strategy, is developing Hong Kong’s homegrown large language model (LLM), aiming to compete with global AI firms while ensuring AI solutions tailored to the city’s unique business and cultural needs.
Secretary for Innovation, Technology and Industry Sun Dong described the donation as a “milestone” in Hong Kong’s AI development. Sun assured that AI remains a top priority for the government.
“In times of fiscal tightening, our support will be more focused and targeted, but we will continue to invest in critical areas such as AI,” Sun said.
The financial backing from the Ng Teng Fong Charitable Foundation and Sino Group is expected to accelerate Hong Kong’s AI development, strengthening its position as a global tech and innovation leader.