Report

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(e)
Establishing the R&D Cash Rebate Scheme to
encourage more private sector investment in R&D
and collaboration with public research institutions.
3.28 Such efforts are continuing. The National 12 th Five-Year
Plan, which was promulgated in March 2011, affirmed the Central
People’s Government’s support for Hong Kong in furthering innovation
and technology development. Through Mainland China/Hong Kong
Science and Technology Cooperation Committee and working with the
State Ministry of Science and Technology, the Administration has
formulated and implemented initiatives to dovetail with the 12 th
Five-Year Plan to enhance Hong Kong’s participation in the national
roadmap of technology development. In addition, the governments of
Hong Kong SAR and Shenzhen have formed the “Shenzhen-Hong Kong
Innovation Circle” to promote technological collaboration between the
two places.
3.29 In this context, the IP system is an integral part of the whole
equation in the quest for innovation. The Hong Kong patent system has
remained essentially one of re-registration, even after the enactment of
the Ordinance in 1997 which was formulated based on the
recommendations of a review conducted between 1986 and 1993 when
Hong Kong had a very different economic structure from now.
Although the re-registration system has served Hong Kong well for a
long time, as Hong Kong moves further away from being an OEM centre,
time is ripe to consider whether there are changes that may contribute
better to the promotion of innovation in the long run, while preserving the
strengths of the present system.
3.30 Another point to note is the feasibility for Hong Kong to
promote itself as a regional IP trading hub (paragraph 3.13 above). With
sound financial and legal systems, a low-tax regime and a pool of