Sun Dong: Hong Kong will continue to promote the development of innovation and technology and accelerate the development of new productive forces.

On April 17th, Professor Sun Dong, Secretary for Innovation and Technology of Hong Kong, pointed out in his opening remarks at the Special Meeting of the Finance Committee of the Legislative Council that the "14th Five-Year Plan" of the country clearly supports the construction of an international innovation and technology center in Hong Kong. This year's Budget continues to have a forward-looking layout, aligning with national development and focusing on the direction of the "Hong Kong Blueprint for Innovation and Technology Development". With strong support from the country, Hong Kong is steadily moving towards realizing its vision of becoming an international innovation and technology center. This year marks the beginning of the 14th Five-Year Plan, and the SAR Government will continue to promote innovation and technology development and accelerate the development of new production forces. Sun Dong proposed improving the innovation and technology ecosystem, promoting the new industrialization of Hong Kong, advancing the development of the digital economy, and building a smart Hong Kong. One of the key themes of this year's Budget is the development of "Artificial Intelligence + (AI+)". To promote the development of AI+, the SAR Government will establish an "AI+ and Industrial Development Strategy Committee" at the top-level design, focusing initially on life health and body intelligence. The Budget also allocates HK$100 million to accelerate the government's digital transformation through the introduction of leading artificial intelligence technologies and expert services, as well as proposing universal AI training, with HK$50 million allocated to invite different public organizations, technology companies, and universities to initiate related work. Sun Dong introduced another key development area, which is life health technology. The life health research and development institute being planned in Hong Kong will adopt a "1+3" model, including the headquarters located in the Hong Kong Park of the Hong Kong-Shenzhen Innovation and Technology Cooperation Zone (Hong Kong Park), as well as three branches to be built by local universities. In terms of the development of new industries, Hong Kong will launch a New Industrial Elite Enterprise Incubation Program this year, focusing on supporting high-growth enterprises that contribute to the development of new industries in Hong Kong. The Budget also proposes to reserve approximately HK$220 million to build the first overseas National Manufacturing Innovation Center in Hong Kong. In fostering and strengthening emerging industries, the Space Robotics and Energy Center under InnoHK will participate in the national Chang'e 8 mission. The third InnoHK research platform SEAM@InnoHK will establish eight laboratories this year. Additionally, various technology parks in Hong Kong will invest resources to support body intelligence enterprises in their development. The government has also invested resources in supporting research on quantum technology in recent years. Furthermore, Hong Kong will continue to comprehensively support industry development in the upstream, midstream, and downstream. To encourage more research activities in the upstream, the tax arrangements for research and development expenditures will be reviewed and optimized. In the midstream, industrial, academic, and research cooperation will be deepened, with 49 projects approved under the HK$10 billion "1+2 Research Collaboration Program". In the downstream, the HK$10 billion New Industrial AccelerationProgram has supported four applications, with a total investment of approximately HK$2.5 billion; in addition, the HK$10 billion Innovation and Technology Industry Support Fund is now selecting fund managers and is expected to start operation this year. Sun Dong emphasized that Hong Kong must actively integrate into the overall national development and serve as a bridge connecting the mainland and the world. The Hong Kong Park was opened in December last year and has attracted nearly 80 companies to settle in the first phase of two wet laboratory buildings as of the end of March this year; the remaining land parcels of the first phase of development are planned to be gradually launched in the second quarter this year. The Budget announced an additional investment of HK$10 billion to the Park Company through the Legislative Council, facilitating the overall development of the Park through various means, including the faster development of the remaining land parcels in the first phase through a public-private partnership model and provision of essential infrastructure to support the flow of innovative elements across the Park and further strengthen comprehensive support for Park enterprises. As a natural extension of the Hong Kong Park, the New Territories Technology City will develop in synergy with the Hong Kong Park, forming a complete industrial ecosystem. The Budget announced the government's plan to establish a dedicated company for the New Territories Technology City within this year and to apply for an initial investment of HK$10 billion from the Legislative Council to accelerate market resource development. Regarding the enhancement of the talent pool for science and technology innovation, Sun Dong stated that promoting innovation and technology development requires high-quality talents. InnoHK currently has more than 3,000 researchers engaged in world-class research collaborations. Hong Kong has also launched a HK$3 billion Frontier Technology Research Support Program by September 2025, which will help local institutions attract top international talents to conduct cutting-edge scientific research in Hong Kong, aligning with national strategic deployment. The preliminary review results of the first round of applications are currently being followed up with the relevant universities.