Policy Address 2024 | CE unveils plans for new industrialization and I&T development
Hong Kong Chief Executive John Lee delivers his third Policy Address today (Oct. 16) at 11 a.m.
Lee said that HK is striving to become an international innovation and technology (I&T) center by promoting the upgrading and transformation of traditional industries while actively nurturing emerging ones.
"We will spare no effort in developing new quality productive forces tailored to local conditions."
The government will develop a medium to long-term development plan for new industrialization in HK.
"We will also press ahead with establishing the Hong Kong New Industrialisation Development Alliance to promote closer collaboration among the Government and the industry, academia, research, and investment sectors, building a cooperative platform for new industrialization in Hong Kong. This includes providing more financing opportunities and fostering I&T cooperation between newly listed companies in Hong Kong and local universities," Lee said.
The InnoHK research clusters have become home to about 2,500 research and development (R&D) personnel from HK and worldwide. The government has already started preparatory work to establish the third InnoHK research cluster, focusing on advanced manufacturing, materials, energy, and sustainable development. The target is to attract world-class R&D teams to collaborate with local institutions, promote R&D, and bring in talent.
The government will launch a new round of the Research Matching Grant Scheme totaling HK$1.5 billion to attract more organizations to support the research endeavors of institutions.
In addition, Lee added that the government will increase investment in I&T industries and attract international start-up accelerators to establish a presence in HK.
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