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The Managing Director of Hong Kong delivered the 2021 policy speech aimed at boosting the development of innovation and technology (I&T) to transform Hong Kong into an international I&T hub. The EC noted, before delivering its final political speech, that the speech would focus on economic integration with the Chinese mainland, the supply of housing and land, and the resumption of non-quarantine travel with the party. continental.

For example, when it comes to housing and land, among other goals, the Hong Kong SAR government aims to:

  • Ensure the timely delivery of the 10-year social housing production of 330,000 units by advancing projects over the last five-year period (2027-28 – 2031-32) to the extent possible
  • Further streamline development processes through critical review of urban planning, environmental impact assessment and other regulatory requirements, and
  • Advancing the Northern Metropolis Development Strategy to transform the northern part of Hong Kong into a vibrant and attractive area with more land for housing, technological development and other industries

In a section titled “A New Moment for the Economy”, the government is working to:

  • Improve the listing regime, develop offshore activities in RMB and develop a green and sustainable financial sector
  • Develop a “Smart Port”, develop logistics and maritime activities with high added value and improve connectivity within the Grande Baie region and beyond
  • Improve the access of small and medium-sized enterprises to bank financing through the exchange of trade data
  • Attract reputable dispute resolution institutions to establish offices in the Hong Kong Legal Hub
  • Building on the achievements of recent years, build a comprehensive ecosystem of innovation and technology by providing more land and infrastructure, encouraging research and development, investment in technology, reindustrialization and supporting university research
  • Advance the developments of Airport City and strengthen cooperation with Zhuhai in the aviation industry
  • Modernizing the copyright regime in light of the digital environment
  • Develop world-class cultural facilities and cultivate a pluralistic cultural environment
  • Invest an average of $ 100 billion per year in infrastructure over the next few years

The policy address also covered targets to help “Nurture Youth Talent and Development”. This mainly involves working on:

  • Double the annual quota of the Quality Migrant Admission Scheme to 4,000
  • Add new professions and expand the fields of existing professions to the talent list to target high quality talent
  • Extend the Research Matching Grant Scheme by two years to support research in the higher education sector
  • Improve national education and values ​​education with the Education Office playing a monitoring role
  • Invite the Commission for Youth Development to explore the introduction of a new funding program to nurture positive thinking among young people

Leading academic and research institutions have shown their support for the 2021 policy speech. For example, the president of ASTRI noted that he was pleased to see the government continue to actively promote the development of I&T. in Hong Kong through diverse policy initiatives, including providing more land and infrastructure, encouraging research and development, investing in innovation and technology. , accelerating reindustrialisation and enriching the pool of local talent.

In addition, the I&T collaboration between Hong Kong, the Great Bay region and other mainland cities will be strengthened. Meanwhile, the CEO of ASTRI said the agency has taken advantage of advanced technologies in a wide range of areas.

“We will give our full support to the government to implement the initiatives, which include accelerating the adoption of innovative 5G applications in several sectors, achieving smart manufacturing, using the platform of ‘trade data exchange developed by the Hong Kong Monetary Authority (HKMA) promote alternative credit rating, etc., with the aim of continuously promoting the development of smart city and improving the quality of life of citizens “, did he declare.

The University of Hong Kong (HKU) also praised the 2021 policy speech by proposing several visionary and creative policies to support scientific research and development. It is encouraging to see the provision of land resources, talent and financial policies, which will help attract more world-class talent and outstanding postgraduate research students to Hong Kong, the press release notes.

The University is committed to leveraging its research capabilities to actively participate in the InnoLife Healthtech Hub in the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) in the Loop District.

Hong Kong Polytechnic University (PolyU) also expressed support for the chief executive’s initiatives in the 2021 political speech which laid out a roadmap to build a better future for Hong Kong in collaboration with all sectors. from the community.

The press release notes that the University is grateful to the current administration for its unwavering support in training talent and promoting innovation and technology, particularly its investments of more than $ 130 billion in Hong Kong in innovation and technology over the past four years, as well as the development of a more comprehensive innovation and technology ecosystem. These have made innovation and technology a new boost for the city’s economy.

The PolyUn President’s conclusion noted that in the next academic year, PolyU will reform its undergraduate curriculum to strengthen the teaching of artificial intelligence, data analytics, innovation and technology. entrepreneurship, while strengthening support for the entrepreneurial efforts of students in the GBA.

The Hong Kong Baptist University (HKBU) also responded positively to the 2021 policy speech. The University press release noted that HKBU supports the establishment of an InnoLife Healthtech Hub in the HSITP. Life and Health is one of HKBU’s key research areas, and it has relevant research facilities, including the State Key Laboratory of Environmental and Biological Analysis, Computational Medicine Lab, and System Health Lab.

The University also actively participates in InnoHK research poles and plays an important role in promoting the development of Chinese medicine in Hong Kong. In addition to establishing the Hong Kong Chinese Medicine Clinical Studies Center, he was recently appointed the operator of Hong Kong’s First Chinese Medicine Hospital. The University hopes that the InnoLife Healthtech Hub will give impetus to research and industrial development of life and health in Hong Kong.

The HKBU also welcomed the government’s plan to make Hong Kong an East-Meeting-West center for international cultural exchanges. The University is at the forefront of development in the fields of art, culture and creative media, and it has nurtured talents in various sectors including music, film, visual arts, cultural studies, creative writing and artistic technologies, to give new impetus to the creative industries.


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