Chery Automobile has been selected as one of 18 companies in Hong Kong's seventh batch of "key enterprises," a designation that brings tailored government support for land, tax and talent, according to Chinese automotive news outlet Gasgoo.
The signing ceremony took place on October 22 at Hong Kong's government headquarters, with Financial Secretary Paul Chan presiding. Chery Vice President Dai Chuang represented the company. The batch covers advanced manufacturing, new energy, artificial intelligence and life sciences, with half of the companies coming from mainland China. Several have market values or valuations exceeding 100 billion Hong Kong dollars (about $12.9 billion).
With this addition, Hong Kong's Office for Attracting Strategic Enterprises has now brought in 142 companies since its launch, expecting cumulative investment of about 84 billion Hong Kong dollars (about $10.8 billion) and the creation of roughly 26,700 jobs. Selected firms benefit from a "one enterprise, one policy" support package that includes land and park facilities, R&D tax deductions and visa arrangements for core talent.
From product exports to innovation collaboration
Chery's inclusion marks a shift in its global strategy, positioning Hong Kong as a bridgehead for innovation rather than just a sales outlet. In April, the company opened the Chery Hong Kong Innovation Center at the Hong Kong Science Park, described as an offshore hub for "AI plus automotive" development, focusing on new energy, intelligent driving and connected vehicle technologies.
Gasgoo reported that the government's recognition provides institutional confirmation of Chery's move from exporting products to fostering collaborative innovation through Hong Kong. The company, which sells vehicles under the Chery, Jetour and Exeed brands, has been expanding its overseas footprint, particularly in markets like Russia, Latin America and the Middle East.
Hong Kong has been actively courting mainland technology and automotive firms, offering incentives to set up regional headquarters or R&D centers. The city's status as a financial hub and its proximity to mainland supply chains make it an attractive base for companies looking to internationalize.
Chery's selection underscores the growing trend of Chinese automakers using Hong Kong as a launchpad for global operations, especially in areas like intelligent driving and new energy vehicles (NEVs). The company has not disclosed specific plans for its Hong Kong operations, but the innovation center is expected to play a key role in developing technologies that can be applied across its global lineup.