Research and Development Insights: Hong Kong Aims to Be a Top I&T Hub Similar to Silicon Valley
The Road to Becoming a Leading I&T Hub
Hong Kong's research and development landscape shows promise, but Minister Sun Dong asserts that it has a long way to go to achieve a status comparable to Silicon Valley. The government aims to catalyze private sector engagement to bolster technological advancement.
Need for Increased Investment
- Capital Mobilization: Hong Kong lacks sufficient capital compared to Shenzhen and Beijing, needing about 2.7 percent of GDP.
- Strategic Focus: The government plans to channel limited resources into specific I&T fields.
- Cyberport and Science Park: Focus on different technology sectors to foster development.
Encouraging a Virtuous Cycle
Sun believes that fostering a virtuous cycle in technology demand and investment in research and development is crucial. By harmonizing efforts from both the government and private sectors, Hong Kong can create a conducive environment for innovation to thrive.
Future Prospects
- The proposed San Tin technopole aims to boost I&T proximity to mainland China.
- International collaboration in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone is on the horizon.
- Upcoming projects scheduled for completion by 2025 signify proactive governmental planning.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.