【2017 Policy Address】 Chief Executive Pushes IT Development ahead at full steam

Chief Executive Carrie Lam Cheng Yuet-ngor in her first policy address, delivered on Wednesday, pushes the development of innovation and technology in the city.

The government plans to double the expenditure on Research and Development to 1.5 percent of GDP from 0.75 percent currently.

Lam said the government will inject at least HK$10 billion into university research funding, and provide additional tax deduction for research and development expenditures of enterprises.

The Innovation and Technology Bureau will launch a $500 million “Technology Talent Scheme”, including the establishment of a “Postdoctoral Hub”.

To press ahead with I&T development at full steam, Lam will lead the Steering Committee on Innovation and Technology to examine and steer measures under the eight areas of I&T development including Smart City projects.

The government will also invest HK$700 million to instantly kick off several projects to further develop Hong Kong into a Smart City.

The Education Bureau will also make $3 billion available to finance the University Grants Committee-funded research postgraduate programs for local students.

 

《The Young Financial Post 新報人財經》

新報人財經(TYFP)為香港浸會大學新聞系財經專業的實驗平台,由學生自主編採,為社會大眾提供中港相關的金融財經消息。

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