Innovation and technology (I&T) can boost sustainable development, enhance competitiveness, create employment opportunities and provide new momentum for economic development of Hong Kong. The Greater Bay Area development brings valuable opportunities to Hong Kong's I&T development. Leveraging on its advantages in technological research and development (R&D), internationalisation and its status as an international finance centre, Hong Kong can pool together innovative resources from the Greater Bay Area and the world to promote R&D on I&T, boost our competitiveness and create quality job opportunities.
- The Government is stepping up efforts in I&T development in eight major areas, including: (a) increasing resources for R&D; (b) pooling together technology talent; (c) providing investment funding; (d) providing technological research infrastructure; (e) reviewing existing legislations and regulations; (f) opening up government data; (g) Government leading changes to procurement arrangements; and (h) strengthening popular science education.
- Universities in Hong Kong are consistently among the top in world rankings. Of the top 100 universities in the Quacquarelli Symonds (QS) World University Rankings 2020, five are from Hong Kong.
- The Government will establish two research clusters on healthcare technologies and on artificial intelligence and robotics technologies in Science Park. By providing financial assistance to non-profit-making research institutions, we aim to attract world class scientific research institutions and technology enterprises to Hong Kong to conduct more R&D projects in collaboration with local universities and scientific research institutions. The clusters will pool and nurture more technology talents in Hong Kong.
- The People's Government of Guangdong Province released the "Certain Policy Measures for Further Promoting Science and Technological Innovation in Guangdong Province" in December 2018 to, among other things, support higher education institutions and scientific research institutes from Hong Kong and Macao to participate in projects under Guangdong technology programmes, and programme grants are allowed to be transferred directly to these organizations. The first such sum was transferred to the Science and Technology University of Hong Kong in July 2019.
Chinese Academy of Sciences Memorandum of Understanding Signing Ceremony
- The Government and the Chinese Academy of Sciences (CAS) signed a Memorandum of Understanding in November 2018, which confirms that CAS will establish an affiliated institution in Hong Kong with a view to facilitating its Guangzhou Institutes of Biomedicine and Health and Institute of Automation to respectively establish their presence in the two research clusters for launching R&D work.
- Hong Kong has more than 40 academicians of CAS and Chinese Academy of Engineering. We will establish a Greater Bay Area academician alliance in Hong Kong to promote the participation of academicians in the development of the Greater Bay Area. The affiliated institution of CAS in Hong Kong will also serve as the secretariat of the Greater Bay Area academician alliance and provide support for its daily operation.
- In September 2018, the national Ministry of Science and Technology and the Innovation and Technology Bureau of the HKSAR Government signed a co-operation arrangement to promote I&T exchanges and collaboration. Moreover, the two parties signed a research funding agreement, which sets out the framework of the funding and the modus operandi of the Mainland-Hong Kong Joint Funding Scheme.
- Universities and research institutions in Hong Kong can apply for science and technology funding granted by the Central Government and use the relevant funding in Hong Kong. These arrangements strengthen I&T collaboration between the Mainland and Hong Kong and pool world-class R&D institutes, talent and capital in Hong Kong.
- The Government has introduced enhanced tax deduction for qualifying R&D expenditure. The first $2 million eligible R&D expenditure will enjoy a 300 per cent tax deduction with the remainder at 200 per cent.
- The Government and the Shenzhen Municipal People's Government will jointly develop the Hong Kong-Shenzhen Innovation and Technology Park at the 87-hectare Lok Ma Chau Loop, which will be the largest ever innovation and technology platform in Hong Kong.
- There are 16 State Key Laboratories and six Hong Kong Branches of Chinese National Engineering Research Centres undertaking research on diverse technology areas. Moreover, top overseas scientific research institutions have also established their presence in Hong Kong, including the Massachusetts Institute of Technology's first overseas innovation node and the Swedish Karolinska Institutet's first overseas research centre.
- The Government has been fostering I&T development and has so far invested more than $100 billion on various initiatives, including investing in infrastructure, encouraging research and development, promoting "re-industrialisation", promoting the application of technology, pooling together technology talent, etc., in order to improve the I&T eco-system of Hong Kong, enhance Hong Kong's competitiveness and create more opportunities for small and medium enterprises and young people. In pooling together technology talent, we have launched a Technology Talent Admission Scheme (TechTAS) as a fast-track arrangement to admit overseas and Mainland technology talent to work in Hong Kong and nurture local technology talent.
- The Government published the Smart City Blueprint for Hong Kong in December 2017 with a vision to developing Hong Kong into a world-leading smart city. Our aim is to, through the adoption of I&T, enhance city management and improve people's quality of living, in order to strengthen Hong Kong's attractiveness to global businesses and talent, and promote sustainable economic development.
- The Blueprint covers six major areas, namely "Smart Mobility", "Smart Living", "Smart Environment", "Smart People", "Smart Government" and "Smart Economy", with more than 70 development initiatives.