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

New science parks in Hong Kong will offer new impetus to the local innovation and technology development, Secretary for Innovation, Technology and Industry Sun Dong said.

Speaking at a forum on Monday, Sun said that Hong Kong has long been recognized as a super-connector capable of bridging the mainland and global markets.

“The HKSAR government is fully committed to creating a robust I&T ecosystem and a business-friendly environment where I&T enterprises and start-ups can grow and thrive here, making impactful contributions to the local and global economy and society,” Sun said.

“Proactive initiatives, such as the development of the Hetao Hong Kong Park and the new I&T land in San Tin Technopole, will provide new impetus to our I&T development.”

Sun also said the government’s welcome for more international innovation enterprises to establish a presence in Hong Kong, leveraging the city’s advantages as “an ideal gateway for businesses aiming to tap into the vast markets of mainland China and the Asia-Pacific region.”

He underscored that close collaboration among the government, the innovation industry, academia, research, and investment sectors is crucial to building a sustainable innovation ecosystem.

At another event, Sun said that the government will assist more companies in establishing smart manufacturing facilities in Hong Kong.

He noted that last year, the government enhanced its New Industrialization Funding Scheme, promoting digital transformation in the traditional manufacturing sector. As a result, authorities have provided subsidies for over 100 smart production lines.

Also, in September of last year, the government launched the HK$10 billion New Industrialization Acceleration Scheme, which offers funding support of up to HK$200 million for enterprises to set up new smart production facilities in the city.

“We are pleased to see businesses actively engaging in Hong Kong’s new industrialization process and continually enhancing their competitiveness,” Sun said.

(Wallis Wang)