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The First Report of the Chief Executive's Commission on Innovation and Technology was released to the public today (Friday).
Speaking at a press conference, Chairman of the Commission Professor Chang-Lin Tien said that Hong Kong should map out its position in the knowledge-based economy against increasing world competition.
"To ensure longer term economic stability and growth, Hong Kong must create new and more effective niches through innovation and technology," Professor Tien said.
"Innovation and technology are important to all sectors of the economy, including traditional and low-tech manufacturing industries, as well as service industries. They may be applicable to every aspect of the value-adding chain."
"We envision Hong Kong to be an innovation-led, technology-intensive economy in the 21st century, serving the region as a centre for the development and commercialisation of innovative ideas and technology, in addition to Hong Kong's current role as a business and financial centre."
The Commission has painted a picture of Hong Kong becoming an international or regional centre in seven areas, namely, information technology; design and fashion; multimedia services; Chinese medicine; high value-added products and components; technological and professional talents; and a marketplace for technology transfer to and from the Mainland. This has been incorporated into the Policy Address delivered by the Chief Executive on Wednesday.
"While industry must make its own choices and investments, the Government should play the role of a promoter, facilitator, and supporter," Professor Tien said.
"We recommend that the Government adopt a five-point strategy to realise the vision :
* strengthen technological infrastructure and promote technological entrepreneurship;
* build up intellectual capital;
* enhance technological collaboration with the Mainland;
* foster university-industry partnership; and
* lower information, financing and regulatory barriers."
The major recommendations in the first report are the establishment of a $5 billion Innovation and Technology Fund and an applied science and technology research institute. The Chief Executive has already announced in the Policy Address the Government's acceptance of these recommendations.
For enhancing technological collaboration with the Mainland, the Commission recommends the following main measures -
* establish a database of Mainland technological resources.
* encourage industrial and professional bodies to organise more promotion and networking activities; and
* co-operate with the Mainland in the area of technological support infrastructure, including joint research; helping Hong Kong firms in the Pearl River Delta to upgrade their technologies; partnership between the Science Park and the proposed research institute with relevant Mainland bodies; and technological exchanges between universities.
For fostering university-business partnership, the Commission recommends the following main measures -
* encourage universities to strengthen publicity on their research resources;
* encourage universities to set up an industrial sabbatical system and allow staff to take no-pay leave for technology transfer or entrepreneurial work;
* bring together industrialists and university researchers to identify commercially relevant research topics;
* introduce a package of incentive schemes to promote university-business partnership in research;
* University Grants Committee to consider building an element into its funding methodology to reflect the level of university-business interaction in research; and
* encourage universities to promulgate a clear promotion policy recognising researchers' efforts in commercially relevant work.
In the next phase of its work, the Commission will examine issues not fully covered in the first report. These include measures to attract technological talents to Hong Kong; fostering a culture of innovation and technology in industry; improving the business environment; and reviewing institutional arrangements. The Commission plans to complete its work by June 1999.
The Chief Executive appointed the Commission in March 1998 to advise him on the necessary measures to make Hong Kong a centre of innovation and technology in the 21st century. The Commission comprises 14 members from the business, academic and government sectors. It submitted a first report to the Chief Executive last month.
The first report of the Commission can be obtained free of charge from District Offices or through the Commission's website (http://www.info.gov.hk/cit/).
End/Friday, October 9, 1998
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