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Advisory Committee on Innovation and Technology offers valuable contribution to innovation and technology development in Hong Kong (with photo)
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     The Secretary for Innovation and Technology, Mr Nicholas W Yang, chaired the last meeting of the Advisory Committee on Innovation and Technology today (March 30). Mr Yang said that the Government accepted the recommendations of the Advisory Committee, and would formulate policies based on the overall directions set out by the committee to promote the innovation and technology (I&T) development in Hong Kong.

     "In the past two years, the Advisory Committee reviewed the Government's existing strategies in promoting I&T development, and advised on the key areas critical for I&T development, including infrastructure, matching of capital and expertise, and nurturing I&T talent. The Advisory Committee has drawn up a set of specific recommendations with clear overarching key performance indicators (KPIs), which aimed to collaborate with various stakeholders to create a thriving I&T ecosystem," Mr Yang said.

     Mr Yang expressed his sincere gratitude to members of the Advisory Committee, especially the convenors of the three working groups (Mr Wong Ming-yam, Mr Denis Tse and Dr Humphrey Leung), for their sterling work and valuable contribution in the past two years.

     The Report of the Advisory Committee on Innovation and Technology, which sets out the recommendations of the Advisory Committee, has been uploaded to the websites of Innovation and Technology Bureau (ITB) (www.itb.gov.hk/en/links) and the Innovation and Technology Commission (www.itc.gov.hk/en/advisory/terms.htm). The report summarises the work of the Advisory Committee in the past two years, and draws up a set of recommendations with clear overarching KPIs. Relevant KPIs, with the target year of achievement set at 2020, include increasing Hong Kong's Gross Domestic Expenditure on Research and Development (R&D) as a percentage of the Gross Domestic Product to 1 per cent, raising the ratio of public and private sector expenditure on R&D from 56:44 to 45:55, reversing the declining trend of the manufacturing sector and increasing the number of employees in the I&T sector to 42 600.

     "Since the establishment of the ITB in the end of 2015, the Government has already made a substantial investment of $18 billion, and reserved an additional $10 billion for the holistic development of I&T in Hong Kong. We have adopted the nine overarching KPIs put forward by the Advisory Committee and, with reference to its recommendations, launched a series of initiatives to spearhead I&T development in Hong Kong," Mr Yang said. Looking ahead, the ITB will continue to refer to the overall directions set out by the Advisory Committee when formulating policies, with a view to further enhancing the local I&T ecosystem.

     The Commissioner for Innovation and Technology, Ms Annie Choi, said, "The Innovation and Technology Commission will fully support the ITB's policy initiatives, and will regularly report to the Secretary for Innovation and Technology on the progress of implementation." 

     ​In March 2015, the Chief Executive announced the establishment of the Advisory Committee on Innovation and Technology. The Advisory Committee advised the Government on the strategic and developmental enhancements of I&T in Hong Kong, with a focus on making the best use of Hong Kong's advantages of "one country" and "two systems", and further strengthening the connection and collaboration among the Government, industry, academia and research sectors. A total of 16 meetings were convened following the establishment of the Advisory Committee and the various working groups.
 
Ends/Thursday, March 30, 2017
Issued at HKT 17:40
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The Secretary for Innovation and Technology, Mr Nicholas W Yang (front row, centre), chairs the last meeting of the Advisory Committee on Innovation and Technology today (March 30).