The Hong Kong New Industrial Development Alliance was established on the 18th, aiming to gather talents and resources from all sectors of society and provide a favorable environment for the high-quality development of more competitive innovation and technology industries. Sun Dong, Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region Government, delivered a speech at the establishment ceremony of the alliance, stating that Hong Kong is currently in a critical period of economic transformation, and promoting the development of new industries is crucial for the high-quality development of Hong Kong in the future. The establishment of the alliance is another important milestone in the development of new industries in Hong Kong. Sun Dong hopes that the alliance will adhere to the policy of "government actively promoting and stakeholders working together", and demonstrate new forms, models, and attempts of collaborative cooperation between the government and the industry. We eagerly look forward to the alliance actively promoting close collaboration among various innovation and technology stakeholders in the future, including providing financing opportunities, promoting innovation and technology cooperation between newly listed companies in Hong Kong and local universities, etc., promoting the comprehensive development of Hong Kong's new industrialization, and seamlessly connecting the innovation chain and industrial chain. The Secretary for Justice of the Hong Kong Special Administrative Region Government, Lin Dingguo, stated in his speech that promoting Hong Kong's new industrialization is not only crucial for the future economic development of Hong Kong, but also an important part of Hong Kong's better integration into the overall national development. In the development process of new industries, the role of law cannot be ignored. Hong Kong's legal system is renowned for its transparency and fairness, providing a stable environment for the development of new industries. In the 2024 Policy Address, Hong Kong Chief Executive Carrie Lam proposed to formulate a medium - to long-term development plan for Hong Kong's new industries and promote the establishment of the Hong Kong New Industries Development Alliance to facilitate close collaboration among government, industry, academia, research, and investment, and to build a platform for cooperation in Hong Kong's new industries. (New Society)