Government supports technology development

A series of programmes to promote the research and development activities in Hong Kong has been announced by Hong Kong’s Secretary for Commerce, Industry and Technology, Mr John Tsang. 

Mr Tsang said among the more important initiatives was the $5 billion Innovation and Technology Fund (ITF), which has supported more than 600 applied R&D projects in the past five years.

Technology infrastructure projects include construction of Phase II of the Science Park, as well as the Applied Science and Technology Research Institute developed to take on quality R&D for transfer to industry, and to help stimulate the growth of technology-based industry in Hong Kong.

Mr Tang pointed out that Hong Kong is well positioned to become the research hub for facilitating technology upgrading of the entire region. In response, the Government has formulated a new strategy of innovation and technology development which emphasises:

a) the identification of key technology focus areas where Hong Kong has competitive advantages 
b) a demand-led, market-driven approach 
c) close industry involvement 
d) the opportunities presented by CEPA 
e) stronger co-ordination among technology-related institutions and the industry 

Mr Tsang said the Hong Kong Government published a consultation document on the new strategy for innovation and technology development in June this year. The document outlined the current state of innovation and technology development in Hong Kong, the issues and challenges for promoting technological innovation, and the proposed new direction and initiatives to address them. 

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