The rapid and profound advancement of technological innovation is reshaping the global development landscape at an unprecedented pace. From artificial intelligence to quantum computing, from renewable energy to biotechnology… disruptive scientific and technological breakthroughs are not only transforming global production methods, economic models, and social structures but also accelerating the dynamic realignment of the global innovation paradigm.
The world is fast-changing and complex, yet not random. How can we identify pathways to breakthrough amid complexity and seize future opportunities? From June 6 to 7, a pivotal international conference held in Hong Kong pooled global insights to forge strategies for scientific and technological innovation in Asia and beyond.
On June 7, Zhang Jun, Secretary General of Boao Forum for Asia, addressed the plenary session of International Science, Technology and Innovation Forum of Boao Forum for Asia (ISTIF) 2025 Hong Kong Conference at the Hong Kong Convention and Exhibition Centre. He noted that the world today is undergoing accelerated transformations amid profound shifts unseen in a century, with global power structures being rapidly reconfigured and the world economy undergoing transitional adjustments. Scientific and technological innovation serves as a critical engine for global economic transformation and a key variable in reshaping the world’s development landscape. Revolutionary breakthroughs in frontier fields such as AI, quantum technology, and bioengineering are injecting robust momentum into high-quality global economic growth, with China and other Asian and Global South countries playing an increasingly pivotal role in leading global innovation. However, the path of innovation is far from smooth, facing deep-seated challenges such as technological barriers, widening digital divides, and lagging global governance frameworks.
Science and technology are the sparks of human progress, and innovation is the key to navigating epochal changes. Technological innovation is becoming the new cornerstone of Asia’s role as the “global engine” and “world factory,” as well as the fundamental pathway to addressing challenges, driving development, and fostering prosperity—enabling growth to break through perceived “limits.” At the plenary session, these themes were echoed by distinguished speakers including Edmund HO Hau Wah, Vice Chairman of the 14th National Committee of the Chinese People’s Political Consultative Conference and President of the ISTIF; John KC LEE, Chief Executive of the Hong Kong Special Administrative Region; BAN Ki-moon, Chairman of the BFA Board of Directors; Esko AHO, Former Prime Minister of Finland, ISTIF Honorary Chairman; Danilo TURK, President of Slovenia (2007-2012); LIU Guangyuan, Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region; Don PRAMUDWINAI, former Deputy Prime Minister and Minister of Foreign Affairs of Thailand. For all, technological innovation stood as a shared consensus for development.
Against this backdrop, the ISTIF 2025 Hong Kong Conference, themed “Transitioning Towards the Future: Powered by Science, Technology and Innovation,” held particular significance. The event brought together over 800 leaders from government, business, and academia across 20+ countries and regions to examine the current state, challenges, trends, and risks in global sci-tech innovation, jointly crafting the “Boao Solutions” to enhance collaborative innovation and improve governance.
Discussions spanned cutting-edge topics such as quantum computing, life sciences, AI+, fintech innovation, bioengineering, and the future of mobility, as well as Hong Kong’s role as a global connector, tech governance frameworks, innovation cluster development, and green tech’s potential to accelerate sustainable development—all contributing actionable insights to global innovation ecosystems.
As the world undergoes a new wave of scientific and industrial revolution, with supply chains and industrial chains being reconfigured, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has emerged as a pivotal engine for innovation in China and beyond, leveraging its unique geographic advantages and institutional dynamism. Hong Kong, a core GBA hub and the nation’s gateway for global connectivity, capitalizes on the “one country, two systems” principle to serve as a “Super connector” and “Super value-adder” in global innovation chains. By dissecting Hong Kong’s innovation model, the conference not only offered fresh perspectives for GBA cluster development but also contributed “Eastern Wisdom” to stabilizing global supply chains amid complexity.
On Establishing Fair, Transparent, Inclusive, and Sustainable Global Technology Governance Mechanisms, the participants engaged in in-depth discussions on the opportunities and challenges posed by emerging technologies like AI, as well as pathways to improve global tech governance frameworks. A prevailing consensus emerged: while technological innovation drives social progress, it has simultaneously created new governance challenges worldwide—including the digital divide, privacy protection, and bioethical dilemmas—necessitating urgent reforms to existing international governance systems. The discussions conveyed a clear message: global tech governance has reached a critical “break the old, establish the new” phase. Only by centering multilateral cooperation around the United Nations, balancing innovation and risks with ethical guardrails, and leveraging youth empowerment and education to bridge digital divides can technological progress be transformed into an engine for shared global development.
On Technological Innovation and Sustainable Development, against the backdrop of a changing world order and the intense impacts of trade and tariff wars, attendees held vigorous discussions on harnessing innovation to advance sustainability. With sustainable development being a universal goal, “cross-boundary collaboration” emerged as the key enabler. This concept signifies breaking down artificial barriers across industries, sectors, and geographies—extending beyond interdisciplinary tech cooperation to safeguarding multilateralism and the UN-centered international system. The dialogue revealed that technological innovation is pivotal to overcoming delays in achieving the UN Sustainable Development Goals (SDGs), yet this requires transcending geopolitical and technological divides. As emphasized in the Boao Forum for Asia Innovation Report 2024, only by replacing monopoly and unilateralism with “technology inclusiveness” and “global synergy” can digital, intelligent, and green technologies become the “leverage solution” to accelerate the 2030 Agenda.
Beyond deliberating new frameworks for global tech governance, the ISTIF Hong Kong Conference facilitated rigorous exchanges on cutting-edge technological trends and breakthroughs, offering actionable insights to catalyze transformative innovation.
On AI’s revolutionary impact as a general-purpose technology, the forum drew parallels between AI and the three preceding industrial revolutions (steam, electricity, the internet), analyzing its distinct challenges while exploring opportunities in application, governance, and global cooperation. The discourse could be distilled into six keywords: awe, growth, learning, responsibility, collaboration, and understanding. These reflections underscored AI’s dual nature as both a productivity multiplier and a civilizational disruptor—demanding equilibrium between technological advancement and global coordination to avert a “tech iron curtain.” AI is compelling cognitive evolution; achieving human-machine symbiosis will require synchronized breakthroughs in ethics, education, and neuroscience.
At Mobility in the Future, participants engaged in comprehensive discussions across multiple dimensions, including: the development and challenges of smart vehicles; the strategic importance and evolutionary path of intelligent road infrastructure; the obstacles and solutions for greening transportation systems; the applications of urban air mobility and aerial vehicles; smart airport management and next-generation transport interconnections; as well as technology-policy integration. These in-depth exchanges focused on how to leverage technological innovation and policy guidance to establish a safe, efficient, and low-carbon future transportation ecosystem, while capturing the transformative trends reshaping mobility paradigms.
The Hong Kong conference featured a dedicated discussion on “Technological Innovation in Financial Services: The Role of Patient Capital”, exploring how tailored financial instruments and service ecosystems can create the optimal conditions for technological innovation to take root and thrive. Through in-depth exchanges, participants agreed that fostering patient capital requires coordinated efforts among governments, central banks, sovereign wealth funds, and family offices. This approach combines risk-sharing mechanisms, long-term investment incentives, and institutional innovations to build an integrated ecosystem where finance and technology evolve in symbiosis.
The conference successfully merged the Boao Forum’s international perspective, the Greater Bay Area’s industrial vitality, and Hong Kong’s distinctive advantages as a global connector. This unique convergence enabled substantive progress in four critical areas: strengthening international innovation partnerships, translating ideas into market-ready solutions, narrowing global technology disparities, and establishing the Greater Bay Area as a premier innovation hub. By forging this multilateral cooperation, the event helped solidify global consensus on technology innovation, injecting much-needed “Boao Momentum” into a global innovation landscape currently constrained by protectionist tendencies. The outcomes demonstrate how patient capital frameworks combined with cross-border collaboration can unlock technology’s full potential to drive inclusive growth worldwide.
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