Financial Secretary of Hong Kong John Tsang said Friday that innovation and technology development will be crucial to make the Pearl River Delta (PRD) Region one of the world’s most competitive regions by the year 2020.
Speaking at the Forum on “Creating Synergy in Innovation and Technology — Shenzhen/Hong Kong Co-operation” held on Friday, Tsang said the goal was set when the Framework Agreement on Hong Kong/Guangdong Co-operation was signed last year and success in developing innovation and technology will be at the heart of achieving it.
Tsang noted that the 12th National Five-Year Plan, which was endorsed by the central government earlier this year, fully supports Hong Kong in fostering emerging sectors, including innovation and technology. Additionally, the central government plans to speed up the formation of several regional innovation centers, including the PRD Region.
The Framework Agreement marks another critical step towards synergizing the advantages of different centers within the PRD Region, he said.
“Today, the rapid socio-economic development of the PRD, including Hong Kong and Shenzhen, is generating huge demand for new technologies. This in turn creates exciting potential for the commercialization of the fruits of Research and Development (R&D), ” said Tsang.
Turning to the Shenzhen-Hong Kong Innovation Circle established in 2007, he said that it offered a superb platform for making the most of the combined strengths and opportunities of Hong Kong and Shenzhen. Further, technology companies could tap the cutting edge applied R&D services developed by Hong Kong’s world-class universities and research institutes.
“We have a robust intellectual property protection regime, a tried and trusted legal system, and on top of that, we have international connectivity. All this creates an ideal environment for the exchange of new ideas on the latest technology,” the city’ s financial chief said.
“Shenzhen also has its finger on the pulse of innovation and technology. It offers a large talent base and unrivaled manufacturing capabilities that help bring ideas from the drawing board into reality,” he added.
The Shenzhen-Hong Kong Innovation Circle has already achieved some impressive collaborative results, including high profile joint projects and successful overseas roadshows.
The half-day, high-level forum organized by Hong Kong Polytechnic University sought to promote the successful collaboration in innovation and technology between the mainland and Hong Kong, with a focus on the Shenzhen-Hong Kong Innovation Circle. Over 200 guests from the local business and research communities attended the event.