Hong Kong’s top-ranked innovative companies announced at Corporate Innovation Index Awards Presentation and Forum 2022

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WeLab Bank, HSBC and Hang Seng Bank named three top-ranking corporations

HONG KONG SAR – Media OutReach – 23 November 2022 – The Corporate Innovation Index (CII) Awards Presentation Ceremony and Forum 2022 was held today at Cheng Yu Tung Building in the Chinese University of Hong Kong (CUHK) to honour the top-ranked innovative corporations and SMEs in 2022.


Guests of Honour Commissioner for Innovation and Technology Ms. Rebecca Pun Ting-ting (2nd from left) and Legislative Council Member (Technology and Innovation Constituency) the Hon Duncan Chiu (2nd from right) officiated at the CII Awards 2022 Ceremony together with CUHK Vice-Chancellor and President Professor Rocky S. Tuan (3rd from left) and CUHK Business School’s Dean Professor Zhou Lin (3rd from right), APIB’s Executive Director Professor Cheung Waiman (1st from left) and Mr. Patrick Lee, HKGCC’s Smart City Working Group Convener (1st from right).

Commissioner for Innovation and Technology Ms. Rebecca Pun Ting-ting and Legislative Council Member (Technology and Innovation Constituency) the Hon Duncan Chiu were invited as guests of honour to officiate and present awards at the ceremony, together with CUHK Vice-Chancellor and President Professor Rocky S. Tuan and CUHK Business School’s Dean Professor Zhou Lin.


Representatives from the top 20 CII Constituent Companies awarded the CII Awards 2022 Certificates.

In response to the Hong Kong government’s mission to develop Hong Kong into an innovation hub, the Asia-Pacific Institute of Business (APIB), the executive education arm of CUHK Business School, launched CII in April 2021, with The Hong Kong General Chamber of Commerce (HKGCC) as a strategic partner. The project is initiated by APIB’s Executive Director Professor Cheung Waiman and is funded by the Innovation and Technology Commission (ITC) of the Hong Kong government under the General Support Programme (GSP).

With the aim of energising Hong Kong’s economy with innovation in the digital age, CII is designed to provide an innovation management and assessment tool that helps promote innovation culture, enhance innovation capabilities and recognise achievements in technology adoption among large corporations and SMEs in Hong Kong.

It recruited more than 200 companies to undertake the CII 2022 survey questionnaire, which examined their innovation performance during 2021. The companies come from a wide range of industries, including retail, trading and logistics, manufacturing, tourism and hospitality, business and professional services, financial services and fintech, property, construction and proptech, information, technology and communication, healthcare and biotech.

Speaking at the awards presentation ceremony, Professor Rocky S. Tuan said, “Innovation, sustainability, and social responsibility are at the heart of CUHK’s vision and mission. We seek to become an agent of positive change in knowledge, attitudes and practices in relation to innovative and sustainable development of Hong Kong and elsewhere, and we believe that there is plenty of room and opportunities for the University to collaborate with the industry and the Government. Today, we are thrilled to unveil the inaugural ‘Hong Kong Corporate Innovation Index’ to celebrate the achievements of the top-ranked companies, as well as to inform policymakers on the current trends of innovation in the Hong Kong corporate landscape for the advancement of the innovation and technology ecosystem in Hong Kong.”

Congratulating APIB on its successful inaugural CII, Ms Rebecca Pun said, “Innovation and technology (I&T) provides key impetus for Hong Kong’s high‑quality economic development. We will further enhance the I&T ecosystem and re‑industrialisation. Particularly, we will introduce a new funding scheme, namely, the ‘Research, Academic and Industry Sectors One-plus Scheme’, ‘RAISe+ Scheme’ in short, in the coming year to provide funding on a matching basis for research teams in universities which have good potential to become I&T start-ups, so as to encourage more collaboration among industry, academic and research sectors to drive the ‘1 to N’ transformation of outstanding R&D results and the tech industry development.”

The Hon Duncan Chiu added, “I would like to express my heartiest congratulations on the success of the Corporate Innovation Index Awards Presentation Ceremony and Forum 2022. This event provided those aspiring to drive innovation and transformation with a unique exchange experience where creativity is encouraged, expertise in application of technology is cultivated, and enterprises’ attainment of excellence and innovation is recognised.”

Professor Zhou Lin remarked, “By introducing the first-of-its-kind corporate innovation index in Hong Kong, we hope to extend our culture of innovation to the wider community and create a network of cross-sector experts in business innovation.”

Top 20 CII Constituent Companies and 25 Star Award SMEs in 2022 were honoured at the ceremony. WeLab Bank, HSBC and Hang Seng Bank were awarded the top three innovative corporations for achieving the highest scores in the CII 2022 survey. [For the CII 2022 top-ranked constituent companies and star award SMEs, please refer to appendix 2.]

The forum was divided into two sessions, one for corporations and the other SMEs, Lessons Learnt from Making Innovative Enterprises and SMEs Achieving Innovation Key Success Factors and Overcoming Challenges in Hong Kong. CUHK Business School’s Associate Professor of Practice in Management Professor Toa Charm and Associate Professor of Practice in Entrepreneurship Professor Dominic Chan, CUHK’s Faculty of Engineering Professor of Practice in Financial Technology Professor CK Chan, and HKGCC’s Smart City Working Group Convener Mr Patrick Lee jointly moderated the forum. When addressing at the Forum, Mr Patrick Lee said, “We have embarked on an important journey to identify the success factors of innovation for companies big and small.”

CII online assessment tools, guidebooks and a series of seminars and workshops are now available to help companies rev up their innovation practice. Meanwhile, CII has launched its 2023 Survey; recruitment of participants is already in progress. For details, please visit: https://exed.bschool.cuhk.edu.hk/join-cii/


Corporate Innovation Index 2022 Ranking

Corporate Innovation Index 2021-2022 CII Constituent Companies:
• WeLab Bank (1st)
• The Hongkong and Shanghai Banking Corporation Limited (2nd)
• Hang Seng Bank (3rd)
• Amazon Web Services Hong Kong Limited (4th)
• YOOV Internet Technology (HK) Limited (5th)
• Prenetics Global Limited (6th)
• Tricor Hong Kong (7th)
• Esquel Group (8th)
• Arup (9th)
• Midland Holdings (10th)

(Companies ranked 11-20, in alphabetical order)
• China State Construction Engineering (Hong Kong) Limited
• FUJIFILM Business Innovation Hong Kong Limited
• Gammon Construction Limited
• Hong Kong Air Cargo Terminals Limited
• Hutchison Telecommunications Hong Kong Holdings Limited
• Lalamove
• MTR Corporation
• New World Development Company Limited
• SenseTime Group Limited
• The Hongkong Electric Co., Ltd.


CII 2022 SME Star Ranking:

Three-Star Award SMEs: (7) – in alphabetical order
• Asia Top Loyalty Limited
• beNovelty Limited
• BioMed Technology Holdings Limited
• Carbon World Limited
• Provista Technology Limited
• RaSpect Intelligence Inspection Limited
• ShipAny Limited

Two-Star Award SMEs: (6) – in alphabetical order
• Frutodor Limited
• iASPEC Technologies Limited
• Koln 3D Technology (Medical) Limited
• Royal Learning Group Limited
• Venture Global Limited
• Wizpresso Limited

One-Star Award SMEs: (12) – in alphabetical order
• Animae Technologies Limited
• Digital Oasis Limited
• Eco Enrich Company Limited
• Foresee Information Technology Co. Limited
• Hai Kang Life Corporation Limited
• Hong Kong Virtual Asset Exchange
• Oriental Machine Tool Co. Ltd
• Rice Robotics Limited
• SyZyGy Limited
• TESS Asia Limited
• ubiZense Limited
• Wessen Group Limited

Hashtag: #CUHKBusinessSchool

About Corporate Innovation Index

In response to the Hong Kong government’s call to develop Hong Kong into the innovation hub of the region, APIB of CUHK Business School has established conceptual framework of corporate innovation for Hong Kong in the digital age, developing a set of measurement matrices called the Corporate Innovation Index (CII). It will recruit hundreds of large corporations and SMEs to participate in the CII ranking annually. CII aims to promote awareness and the importance of innovation among Hong Kong corporations in the fast-changing, digital age; recognise top-ranked innovative companies and help participating companies to benchmark against and learn from industry leaders; strengthen the innovation capabilities of Hong Kong corporations and business leaders through education and training; and inform policymakers on the state of and current trends in corporate innovation in Hong Kong to facilitate the formulation of public policies that advance the sustainability, competitiveness and reputation of Hong Kong companies locally and internationally. CII is funded by the Innovation and Technology Commission (ITC) of the HKSAR, under the General Support Scheme (GSP).

For more details, please visit:

About CUHK Business School

CUHK Business School comprises two schools – Accountancy, and Hotel and Tourism Management – and four departments: Decision Sciences and Managerial Economics, Finance, Management, and Marketing. Established in Hong Kong in 1963, it was the first business school to offer BBA, MBA and Executive MBA programmes in Asia. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes, including MBA, EMBA, MAcc, MSc, MPhil, DBA and PhD. The school currently has more than 4,600 undergraduate and postgraduate students from more than 20 countries and regions.

In the Financial Times Executive MBA Ranking 2022, CUHK’s EMBA was ranked 24th in the world. In Financial Times Global MBA Ranking 2022, CUHK’s MBA was ranked 50th. CUHK Business School has the largest number of business alumni (more than 40,000) among universities and business schools in Hong Kong – many of whom are business leaders.