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Policy Address

International Innovation and Technology Centre

38. I&T provides key impetus for Hong Kong's high-quality economic development. To chart Hong Kong in moving full steam towards our vision of an international I&T centre, the Government will promulgate the Hong Kong I&T Development Blueprint within this year to set out major policies under four broad development directions.

39. First, to enhance the I&T ecosystem and achieve re-industrialisation in Hong Kong. We will:

  1. promote commercialisation of research and development (R&D) outcomes – Hong Kong has strong capabilities in scientific research. We will earmark $10 billion to launch the "Research, Academic and Industry Sectors One-plus Scheme" (RAISe+ Scheme) next year. It will fund, on a matching basis, at least 100 research teams in universities which have good potential to become start-ups. Each team should complete its project in two stages: the first stage for the transformation and realisation of R&D outcomes within three years and the second stage for the commercialisation of R&D outcomes within the subsequent two years. The aim is to incentivise collaboration among industry, academic and research sectors to further promote the "1 to N" transformation of R&D outcomes and the industry development;

  2. promote the development of technology industry – We will actively promote Hong Kong's new opportunities to the Mainland and overseas. By collaborating with the OASES and making use of the $5 billion Strategic Tech Fund as well as the land and space provided for I&T uses starting from 2024 in the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) in the Lok Ma Chau Loop, we will attract high-quality enterprises and talents to Hong Kong, primarily focusing on industries such as life and health technology, artificial intelligence and data science, as well as advanced manufacturing and new energy technology. Our goal is to attract not less than 100 high-potential or representative I&T enterprises to set up or expand their businesses in Hong Kong in the coming five years, including at least 20 top-notch I&T enterprises, bringing more than $10 billion of investment to Hong Kong and creating thousands of local job opportunities;

  3. press ahead with re-industrialisation – We will create the post of Commissioner for Industry who will co-ordinate and steer the strategy on re-industrialisation and assist the manufacturing sector in upgrading and transformation by making use of I&T. We will explore the construction of the second Advanced Manufacturing Centre at the Tai Po InnoPark. We will also subsidise the setting up of more smart production lines in Hong Kong under the Re-industrialisation Funding Scheme, with the target of increasing the cumulative number of smart production lines by four times from about 30 at present to over 130 in five years. Furthermore, we will strengthen the collaboration with the Hong Kong Productivity Council to support enterprises in upgrading to smart production; and

  4. strengthen infrastructure and facilities – We will move full steam ahead with the construction of the HSITP and expedite the development of San Tin Technopole in the Northern Metropolis. The expansion works of the Science Park and Cyberport will be completed in phases from 2025 onward, providing 100 000 square metres of additional floor area. We are also planning the Science Park/Pak Shek Kok Station of the East Rail Line for commissioning by 2033.