New science parks in Hong Kong to propel innovation and technology development

Secretary for Innovation, Technology and Industry, Sun Dong, stated that Hong Kong's innovation and technology development will receive a boost from the establishment of new science parks.

During a forum held on Monday, Sun Dong emphasized Hong Kong's established role as a vital link connecting mainland China with global markets.

Sun Dong affirmed the Hong Kong SAR government's dedication to fostering a strong I&T ecosystem and a business-friendly atmosphere. This commitment aims to enable I&T companies and startups to flourish, thereby significantly contributing to both the local and global economy and society. He specifically mentioned initiatives like the development of the Hetao Hong Kong Park and the new I&T land in San Tin Technopole as key drivers for this growth.

Sun Dong extended a welcome to international innovation enterprises, encouraging them to establish operations in Hong Kong. He highlighted the city's advantageous position as a gateway for businesses seeking access to the extensive markets of mainland China and the Asia-Pacific region.

He stressed that a collaborative approach involving the government, the innovation industry, academia, research institutions, and investment groups is essential for creating a lasting and robust innovation ecosystem.

At a separate event, Sun Dong announced the government's intention to support more companies in setting up smart manufacturing facilities within Hong Kong.

He pointed out the enhancement of the New Industrialization Funding Scheme last year, which aims to promote digital transformation within the traditional manufacturing sector. To date, this scheme has provided subsidies for over 100 smart production lines.

Furthermore, he mentioned the launch of the HK$10 billion New Industrialization Acceleration Scheme in September of the previous year. This scheme offers substantial financial support, up to HK$200 million, to companies establishing new smart production facilities in the city.

Sun Dong expressed his satisfaction with the active participation of businesses in Hong Kong's new industrialization process and their continuous efforts to improve their competitiveness.