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Chairman's Message
Chairman's Message - New Positioning for I&T Development

Dr Jonathan CHOI Koon-shum (Chairman of the 50th terms of office) June 2018

 

Hong Kong can rely on its strengths in financial and professional services to provide support for I&T products in various areas and strengthen cooperation with the entire Bay Area to assist it in its role as a bridgehead for the country’s I&T development.

 

President Xi Jinping’s key instructions last month stressed the promotion of cooperation between Hong Kong and the Mainland on the technology front and supported Hong Kong as an international innovation and technology (I&T) center. This undoubtedly is a shot in the arm for deepening I&T development in Hong Kong. In recent years, the HKSAR Government has focused on promoting I&T development. With the Central Government’s strong support, Hong Kong should allocate more resources to I&T and related industries, particularly further engage in mutually complementary cooperation with Guangdong through the Guangdong-Hong Kong-Macao Bay Area and integrate into the country’s strategy blueprint for science and technology development.

 

Exploit our own strengths and the country’s support

Hong Kong is absolutely qualified to become an international I&T center. Since setting up the Innovation and Technology Bureau in 2015, the HKSAR Government has rolled out a slew of measures to promote I&T development in Hong Kong. It recently introduced the Technology Talent Admission Scheme (TechTAS), which greatly simplifies the procedures to admit technology talent, to fully enrich Hong Kong’s technology talent pool.

 

The measures introduced by the Central Government, including allowing cross-boundary usage of national scientific research funds in Hong Kong, as well as the Ministry of Science and Technology’s recent approval of RMB22 million for research grants, not only provide important support for development of science and technology industries in Hong Kong, but also strengthen science and technology cooperation between Hong Kong and the Mainland.

 

With the policy support of the Central Government and the HKSAR Government, Hong Kong should be able to better deepen cooperation with the Mainland and overcome the past constraints of market size and industry chain. The Bay Area can complement with the strengths of Hong Kong’s upstream scientific research and professional services. Hong Kong should explore how to make use of its unique strengths in the planning and development of the Bay Area to tie in with the Area’s development into an important hub for promoting I&T in the country.

 

Build cross-boundary I&T ecosphere

The governments of Hong Kong and Shenzhen have already confirmed co-developing the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop. The relevant authorities should discuss how to attract top domestic and foreign research institutions and I&T companies to the Park. The HKSAR Government may also consider expanding TechTAS to the Park in the future and discuss with the Guangdong Government on simplifying the customs clearance procedures at all the ports.

 

Guangdong, Hong Kong and Macao may also explore giving more support for start-ups in the Bay Area, including partnering with private enterprises to nurture technology start-ups and, through the combination of “industry, government, academia and research”, accelerate the incubation of start-ups to create a more vibrant I&T ecosphere in the Bay Area.

 

Promote commercialization of scientific research results

With the increasing government support for scientific research, the industrial and business community is looking forward to its bringing more business opportunities. Hong Kong can rely on its strengths in financial and professional services to provide support for I&T products in various areas and strengthen cooperation with the entire Bay Area to assist it in its role as a bridgehead for the country’s I&T development.

 

Scientific and technological innovation is not only an important strategy for the country to move toward modernization, but also a driving force for Hong Kong to diversify its industries. In the past, the Central Government has always supported Hong Kong as an international financial, shipping and trade center. Nowadays, it also supports Hong Kong’s new position as an “international I&T center”, which shows the Central Government’s high priority for Hong Kong’s development. Our various sectors should seize the opportunity to align with the country’s new pace of I&T development to create a new breakthrough for Hong Kong’s economy.