Policy Address

55. The Government has also made a substantial investment of $18 billion to enhance Hong Kong’s innovation and technology ecosystem. These measures include promoting reindustrialisation, funding universities to conduct mid-stream and applied research projects, subsidising industry adoption of technology to upgrade and transform, and supporting start-ups.

56. Supply of hardware, such as land and premises, is a necessary but not sufficient condition for Hong Kong to promote innovation and technology successfully. Facing competitors, Hong Kong must consider how to enhance its overall competitiveness, including offering tax and financial concessions, and other policy support measures to attract innovation and technology enterprises from Hong Kong, the Mainland and overseas.

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