*************************************************

The Chief Executive, Mr Tung Chee Hwa, today (Monday) received the Second and Final Report of the Commission on Innovation and Technology from the Commission's Chairman, Professor Chang-Lin Tien.

With the publication of this report the Commission on Innovation and Technology completed its work after 15 months, during which the community built a consensus about the importance of innovation and technology to Hong Kong's competitiveness and future economic growth.

Mr Tung said that the two reports of the Commission had constructed a comprehensive roadmap for Hong Kong to develop into a knowledge-driven and technology-intensive economy.

"I wish to thank all members of the Commission for their dedicated effort and significant contribution," Mr Tung said after receiving the report.

"I am pleased by the noticeable gathering of interests and action in the community towards this new direction for Hong Kong. This owes a great deal to the hard work of the Commission under Professor Tien's leadership," he said.

Mr Tung noted that Professor Tien had devoted a lot of time for the benefit of Hong Kong and had been instrumental in stimulating enthusiasm in the community.

"I also wish to thank Professor Lu Yong-xiang, President of the Chinese Academy of Sciences, who has so generously shared his experiences with us particularly in the area of technological collaboration between Hong Kong and the Mainland," Mr Tung added.

The Chief Executive said that the Government would carefully study the recommendations in the Final Report so as to decide how they should be taken forward.

Appointed by the Chief Executive in March 1998, the Commission on Innovation and Technology is chaired by Professor Chang-Lin Tien. Other members of the Commission are Mr Payson Cha Mou-sing, Professor Leroy Chang Li-gong, Mr Vincent Cheng Hoi-chuen, Professor Charles Kao Kuen, Professor Liu Pak-wai, Mr Victor Lo Chung-wing, Professor Lu Yong-xiang, Mr Henry Tang Ying-yen, Dr Wang Mei-yue, Mr Allan Wong Chi-yan, Professor Richard Wong Yue-chim, the Secretary for Trade and Industry and the Director-General of Industry.

The Commission submitted its First Report to the Chief Executive in September 1998. The main recommendations in the report were accepted by the Chief Executive in his 1998 Policy Address. These included setting up a $5 billion Innovation and Technology Fund and an Applied Science and Technology Research Institute.

Photo: The Chief Executive, Mr Tung Chee Hwa, meets the Chairman of Commission on Innovation and Technology, Professor Chang-Lin Tien, at Central Government Offices and receives the final report of the Commission submitted by Professor Tien.

End/Monday, July 5, 1999

NNNN