Sun Dong: Hong Kong is the biggest beneficiary of Beidou's development, helping to boost Hong Kong's economy and tax revenue.
The development of the North River Loop in Beidou is a national project that gathers the entire Greater Bay Area, emphasizing that Hong Kong is the biggest beneficiary. It is believed that the development of Beidou will help the economy and tax revenue growth of Hong Kong, as well as provide employment opportunities.
A new "Financial Budget" proposes to invest 10 billion Hong Kong dollars in each of the three parks in the Northern Metropolis Area, including the Hetang Hong Kong Park, the Xintian Science and Technology City, and the Hongshuiqiao Industrial Park Company. Sun Dong, Director of the Hong Kong Innovation Technology and Industry Bureau, said that the development of Hetang in the North is a national project that brings together the entire Greater Bay Area. He emphasized that Hong Kong is the biggest beneficiary and believes that the development of the North will contribute to Hong Kong's economy and tax revenue growth, as well as provide employment opportunities.
Sun Dong pointed out during his radio program that seventy to eighty percent of the funds will be used for public-private cooperation and development to attract domestic and foreign investments. The remaining thirty percent or less of the funds will be used for the operating costs of the park for the next five years, as well as to support innovative companies and park venture capital funds.
He said that by drawing on the successful experiences of science parks and Cyberport, the government's previous investment of 1.1 billion Hong Kong dollars has attracted 18.3 billion Hong Kong dollars in foreign investment and attracted over 5200 start-up companies. He hopes that the park project can appreciate itself, and when the park development matures, investment returns will naturally come.
Regarding the Sandling Data Park, where only one company bid for the land, Sun Dong said that the Sandling project is difficult and the bid threshold is high. He had already anticipated that only one or two companies would meet the bidding criteria early on and expressed satisfaction with the bidding results. He pointed out that the government will strictly supervise the progress and, if the criteria are not met, will confiscate about 477 million Hong Kong dollars in deposit.
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