Policy Address

(B) Promote Development of the Hong Kong-Shenzhen I&T Park in the Loop

143. The Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, located on both sides of the Shenzhen River, consists of the Shenzhen Park and the Hong Kong Park. Capitalising on the strengths of "One Country, Two Systems" with the geographic advantages of "one river, two banks", the Government will develop the Hong Kong Park in the Loop into a world-class, industry-academia-research platform, an internationally competitive R&D transformation and pilot production base for industries, a hub for pooling global I&T resources, as well as a testing ground for institutional and policy innovation.

144. I have established the Steering Committee on the Hong Kong-Shenzhen I&T Park in the Loop, chaired by myself, to lead the HKSAR Government to formulate the overall strategy, planning and layout for the development of the Hong Kong Park. The Development Outline for the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone will be published later this year, setting out innovative policies to facilitate the flow of personnel, materials, capital and data between the two parks, making the co-operation zone a crucial source of new quality productive forces for our country.

145. The Hong Kong Park will be developed in two phases from west to east. The Government is boosting both the speed and quantity, doubling the first-phase development's gross floor area to 1 million square metres. Construction of the first three buildings will be completed in phases, from the end of this year. The first batch of tenants, from life and health technology, AI, data science and other pillar industries, will begin to move in next year. The remaining five buildings will be completed in the coming five years.

146. We are also exploring with the Mainland authorities the trial implementation of innovative facilitation measures, including facilitating cross-boundary travel of designated personnel of the two parks, enabling the cross-boundary movement of materials by using low-altitude, unmanned aerial vehicles, and facilitating cross-boundary fund transfers by Mainland enterprises settling in the Hong Kong Park.