Report

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Kong, design and innovation, technology transfer, etc., taking full
advantage of the opportunities offered by Mainland China.
3.26 In tandem, government policy has been evolving to support
the economic changes. Most significantly, into the 21 st century, the
Administration sets out a clear vision to promote and exploit innovation
and technology as drivers for future growth to race towards a
knowledge-based economy amidst increasingly intense competition
brought about by globalisation and in collaboration with Mainland China
with all of its offerings in store.
3.27 The goal is to turn Hong Kong into an innovation and
technology hub, attracting capital, talents, technology, know-how, etc.,
and creating a clustering effect. Accordingly, significant investments
have been made by the Administration in many policy initiatives since
1999, notably –
(a)
Setting up the Innovation and Technology Fund with
an injection of $5 billion.
(b) Establishing the Innovation and Technology
Commission and the Hong Kong Applied Science
and Technology Research Institute.
(c)
(d)
Developing the Hong Kong Science Park, Industrial
Estates and Cyberport as essential infrastructure.
Setting up five R&D centres in five focus areas
(namely (i) automotive parts and accessory systems,
(ii) information and communications technologies,
(iii) logistics and supply chain management enabling
technologies, (iv) nanotechnology and advanced
materials, and (v) textiles and clothing) to drive and
co-ordinate applied R&D.