Hong Kong Might Become a Global Tech and Innovation Hub in 25 Years

The Hong KongScience Park, the high-tech hub of the city, welcomed Chinese President XiJinping for a visit during his busy two-day trip recently to attend celebrations for the 25th anniversary of Hong Kong's return to China. The Science Park is the largest R&D and business incubation base in Hong Kong that houses over 17,000 innovators and 1,100 enterprises. It was launched in 2002 and had 28 R&D labs within a total floor area of 40,000 square meters.

High Expectations

During his visit, Xi said the country holds grand expectations for Hong Kong. He also reminded that China had written its support for developing Hong Kong into a global innovation and technology hub in its 14th Five-Year Plan (2021-2025) that was released last year. The five-year plan serves as the blueprint and action agenda for the social and economic development of the country in the next five years.

The Progress

"In recent years, with the support of the central government, Hong Kong has leveraged its own advantages to make remarkable achievements in basic research, talent cultivation, and development in the innovation and technology sector," Xi said.

Last year, Hong Kong got the 14th position on the global list of most innovative economies, according to the Global Innovation Index (GII) released by the World Intellectual Property Organization (WIPO).

Xi also stressed, "The HKSAR government should give full play to the role of technological innovation in supporting and leading economic development."

The Chinese President also called on Hong Kong to better cooperate with mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), strengthen the collaborative development of enterprises, universities, and research institutions, and strive to build the GBA into a global highland for scientific and technological innovation.

GBA's Growing Impressively

The GBA is comprised of the two special administrative regions of Hong Kong and Macao and nine cities in the neighboring Guangdong Province. The total area is about 56,000 square kilometers, covering around 6 percent of the Chinese population.

In 2021, the GDP of the GBA was 12.6 trillion yuan ($1.97 trillion), and the GBA contributed 11 percent of the national GDP. The number of high-tech enterprises in GBA has touched 57,000, and the number of patents granted has reached around 780,000.

The Measures

"China's Ministry of Science and Technology (MOST) has rolled out several measures to support the scientific and technological development of Hong Kong and Macao to promote their further integration into the national innovation system," said Dai Gang, director of the International Cooperation Department at the MOST.

The ministry also supported Hong Kong in building several innovation platforms, including 16 State Key Laboratories, six Chinese National Engineering Research Centers branches, two national-level incubators for science and technology companies, and three national high-tech industrialization partner bases. A similar policy was also taken with Macau.

The ministry also initiated measures to support young people from Macao and Hong Kong to pursue careers in innovative industries and start their businesses on the mainland.






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