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Continued increase in Hong Kong's gross expenditure on research and development in 2021
     ​According to the report "Hong Kong Innovation Activities Statistics 2021" released today (December 29) by the Census and Statistics Department, the gross domestic expenditure on research and development (GERD) of Hong Kong in 2021 amounted to $27,827 million, representing an increase of 5 per cent compared with the corresponding figure in 2020, whereas the Gross Domestic Product (GDP) at current market prices increased by 7 per cent during the same period. The GERD as a ratio to the GDP was 0.97 per cent in 2021.
     A Government spokesman said, "Innovation and technology (I&T) has always been the top priority of the Government. Over the years, the Government has invested an unprecedented amount of resources in developing infrastructure, promoting research and development, nurturing talent, and supporting the industry, etc, thereby striving to enhance the I&T ecosystem in Hong Kong. It is encouraging to see that the GERD has recorded an increase of 5 per cent, in spite of the challenges presented in 2021."
     The spokesman also said that, as set out in the National 14th Five-Year Plan, the country has demonstrated strong support to Hong Kong for its development as an international I&T hub. In order to map out Hong Kong as it moves full steam towards this vision, the Government promulgated the Hong Kong I&T Development Blueprint last week to set out major strategies and recommendations under four broad development directions. A series of initiatives were also announced in the 2022 Policy Address, including earmarking $10 billion to launch the Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) for promoting commercialisation of universities' outstanding research and development outcomes for pushing ahead the "from 1 to N" transformation, and pressing ahead with construction of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop and development of the San Tin Technopole, etc.
     "The Government strives to enhance the I&T ecosystem and regularly monitors its progress including the implementation of the relevant measures to develop I&T. These measures are expected to continue to bear fruits gradually," the spokesman added.
Ends/Thursday, December 29, 2022
Issued at HKT 16:35
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