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

The Chief Executive in Council approved yesterday (December 5) the introduction of the Hong Kong Science and Technology Parks Corporation Bill into the Legislative Council.

The Bill seeks to establish a new statutory corporation, to be named the Hong Kong Science and Technology Parks Corporation, to take over the duties and powers of the Hong Kong Industrial Estates Corporation (HKIEC), the Hong Kong Industrial Technology Centre Corporation (HKITCC) and the Provisional Hong Kong Science Park Company Limited (PHKSPCL) when they are merged, and to manage the merged organisation.

"The merger aims at streamlining the existing service delivery structure and maximising synergy among the three organisations," a spokesman for the Commerce and Industry Bureau said.

"The new Corporation can effectively offer a one-stop service to technology-based industries, ranging from nurturing of technology start-ups through the incubation programmes, providing premises and services in the Science Park for intensive research and development activities, to offering land and premises in the industrial estates for production facilities," the spokesman added.

Upon enactment of the Bill, the HKIEC, the HKITCC and the PHKSPCL will be dissolved. All the rights, obligations, assets and liabilities of the three organisations will be vested in the Corporation.

The merger of the HKIEC, the HKITCC and the PHKSPCL was recommended by the Chief Executive's Commission on Innovation and Technology, chaired by Professor Chang-Lin Tien.

The Bill will be published in the Gazette on Friday (December 8) and introduced into the Legislative Council for first reading on December 20, 2000.

End/Wednesday, December 6, 2000

NNNN