Hong Kong SAR focused on developing I&T industry

HONG KONG: The chief executive of China’s Hong Kong Special Administrative Region (SAR), Lam Cheng Yuet-ngor, delivered her policy address here yesterday, saying the SAR government would carry on with innovation and technology (I&T) development in different areas. It was Lam’s first policy address since she was sworn in on July 1.

Lam said that she would lead a highlevel, inter-departmental steering committee on I&T to examine and steer measures under the eight areas of I&T development as well as Smart City projects, aiming to take forward innovation and technology development in Hong Kong in an “expeditious and efficient manner”.

Capitalising on the advantages of “One Country, Two Systems”, Hong Kong’s geographical location, business environment, legal system, intellectual property, research and development (R&D) capability and financial services, and given the opportunities brought by the National 13th Five-Year Plan and the Guangdong-Hong KongMacao Greater Bay Area development, Lam said Hong Kong had huge potential to become an international innovation and technology hub.

For Hong Kong to catch up in the I&T race and become an international I&T hub, the SAR government would step up efforts in eight key areas – resources for R&D, nurturing a talent pool, venture capital, scientific research infrastructure, legislation review, opening up data, government procurement and popular science education.

“We have set a goal to double the gross domestic expenditure on R&D as a percentage of the gross domestic product to about 45 billion Hong Kong dollars (HKD, about R78bn) a year – from 0.73% to 1.5%, by the end of the current SAR government’s five-year term of office,” Lam said.

The government would also strive to train and pool together more technology talent and to encourage them to pursue a career in innovation and scientific research.

“The development of the Guangdong-Hong Kong-Macao (Greater) Bay Area and collaboration between Hong Kong and Shenzhen will connect the upstream, midstream and downstream sectors of innovation and technology industries, developing an international innovation and technology hub in the Bay Area,” the chief executive said.

The SAR government would review existing legislation and regulations to remove outdated provisions that impede the development of innovation and technology.

Departments of the SAR government would open up data sets in various areas.

In terms of smart city development, Lam said the SAR government would invest HK$700m to push ahead with various key infrastructure projects. – Xinhua