Hong Kong Innovation and Technology Bureau: Promoting the deepening of three aspects of work to accelerate the development of Hong Kong's innovation and technology industry and the construction of an international innovation and technology center.

On March 19, in response to the motion on "better aligning with the country's strategy of expanding high-level opening-up", the Deputy Director of the Innovation and Technology Bureau of Hong Kong (ITB), Annie Choi, stated that the government will push forward work in three main directions to promote the deep integration of technology innovation and industrial innovation, accelerate the construction of Hong Kong as an international innovation and technology hub, and contribute to the country's efforts to become a technology powerhouse. First, there is a high-level construction of three major innovation and technology parks and five research and development institutions to create a new pattern that promotes synergistic development throughout the industry chain. Many members mentioned the Greater Bay Area (GBA) Hong Kong-Shenzhen Innovation and Technology Park as an important initiative of the SAR government to align with the "14th Five-Year Plan". The Hong Kong section of the park officially opened at the end of last year and a new building was recently completed. Efforts will continue to speed up the development of the Hong Kong park through initiatives such as developing the remaining land in the first phase through public-private partnerships, facilitating the flow of innovative elements across borders, and establishing a venture capital fund to further accelerate the development of the park. Additionally, the construction of the XinTian Science and Technology City, as a natural extension of the GBA, is also being actively promoted. A dedicated company will be established this year with an initial investment of HK$10 billion to drive the development of the XinTian Science and Technology City. In the future, XinTian Science and Technology City and the GBA Hong Kong park will serve as important links for synergistic development throughout the industry chain, providing strong support for the development of the GBA and the country's innovation. In the new development landscape, efforts will be made to actively leverage Hong Kong's international advantages and strengthen Hong Kong's ability to conduct cutting-edge technology research in line with national strategic deployment. This includes attracting more top international technology talents to Hong Kong through the Advanced Technology Development Support Program, as well as promoting international research and cooperation in core technologies of third-generation semiconductors through the Hong Kong R&D Institute of Microelectronics. The Hong Kong AI Research Institute and the Life and Health Sciences Research Institute will drive breakthrough developments in the two major national strategic technology fields of artificial intelligence and life and health technologies. The SAR government will also continue to actively participate in international and regional organizations to engage in more international technology innovation cooperation and organize more innovation events to leverage Hong Kong's international connectivity as a concrete measure to deepen high-level opening-up. The second direction involves integrating into and serving the construction of the country's modern industrial system to promote the development of Hong Kong's new industrialization. To this end, Hong Kong has proposed a HK$10 billion Acceleration Plan for New Industrialization and a HK$10 billion Innovation and Technology Industry Guidance Fund to promote efficient collaboration among government, industry, academia, research, and investment and build a thriving innovation and technology industry. It has also proposed the establishment of the first foreign national manufacturing innovation center in Hong Kong and is currently researching the medium- and long-term development plan for Hong Kong's new industrialization, as well as exploring Hong Kong's unique position and role in the country's layout for new industrialization during the "14th Five-Year Plan" period and in the construction of the modern industrial system. The third direction involves actively responding to the country's "AI+" action and promoting the comprehensive development of artificial intelligence in Hong Kong. The SAR government has made comprehensive arrangements for the development of AI, covering research, computing power, data, talent, and funding. In addition to the AI Research Institute mentioned earlier supporting more AI research and technology transfer, land has also been allocated for the Sha Tin Data Park, which is expected to provide computing power equivalent to 36 times that of Hong Kong currently. These initiatives reflect the SAR government's commitment to developing Hong Kong into a hub for AI in the region and contributing to the country's comprehensive implementation of the "AI+" action. Annie Choi stated that this year is the opening year of the "14th Five-Year Plan", and efforts will continue to strengthen Hong Kong's advantages in internal and external connections to promote its development in innovation and technology, aiming to establish Hong Kong as a source of innovation for the country and the world.