The 2017 InnoTech Expo hosted by Our Hong Kong Foundation opened yesterday. Addressing the opening ceremony, Vice Chairman of the Chinese People's Political Consultative Conference (CPPCC) Tung Chee-hwa said that Hong Kong owned the unique opportunity of "one country two systems" and could break new ground in innovation and technology. Minister of Science and Technology Wan Gang, also a CPPCC vice chairman, maintained that Hong Kong could be built into a new highland for innovation and technology with greater international influence, and suggested to improve the Mainland-Hong Kong cooperative mechanism in innovation and technology. Chief Executive Carrie Lam Cheng Yuet-ngor on the other hand pointed out that Hong Kong could make use of innovation and technology to spur "re-industrialisation", introducing in high-end manufacturing industry based on artificial intelligence (AI), date analysis and Internet of Things (IoT).
Innovation and technology has already become a new engine to pull the global economy. Inno-tech development starts in Hong Kong late and slowly, but it yet not too late for us to rouse and exert ourselves to catch up. In fact, enjoying the backing of the Mainland, Hong Kong could complement each other's advantages with Shenzhen to benefit from the latter's development into an inno-tech centre. This will not only inject new dynamic energy into Hong Kong but also drive the Guangdong-Hong Kong-Macao Greater Bay Area to become a world inno-tech hub. However, just like in the case of solving the housing problem, the government must have new thinking in advancing inno-tech development, including adjusting the traditional positive non-interventionism and speeding up policy making for the industrial development. Only a right approach can save effort and lead to better results in developing innovative technology.
For Hong Kong to achieve substantial results in inno-tech development, greater efforts must be made in three aspects. 1) To adopt a "silver bullet" policy to push forward inno-tech development. Research and development (R&D) in science and technology requires huge high-risk input, hence it is impossible to rely on private investment alone. Especially Hong Kong's inno-tech development is just at the start-up stage, so the government's leading role is very important. The government must not just remain as a promoter and facilitator but must take positive actions to push forward inno-tech development. For example, the government could make direct investment in R&D projects with potential for commercial application. The government could consider setting up a $30-billion to $50-billion R&D fund to inject huge resources into inno-tech development. Only in this way can Hong Kong hopefully catch up from behind.
2）To speed up policy making for inno-tech industrial development. Right now the most important task is to lure talents and enterprises in innovation and technology to come to Hong Kong. For this, a complete set of industrial policies for advancing inno-tech development is really indispensable. The government should make policy adjustment to ease restrictions on talents in science and technology migrating to Hong Kong, offer taxation incentives for enterprises to invest in R&D, and comprehensively promote STEM (science, technology, engineering and mathematics) education. For this, the government needs to set up an inter-departmental institution to coordinate studies so as to work out a set of industrial policies suitable for inno-tech development in Hong Kong.
3) To strengthen cooperation with the Mainland in innovation and technology. Recently, an underwater robot, Beluga, designed by a team from the Hong Kong University of Science and Technology has won the champion in an international competition. This shows Hong Kong universities' considerable strength in R&D, though improvement has yet to make to turn R&D results into commercial application. Shenzhen's complete inno-tech eco-chain could shore up Hong Kong's weak spots in this regard. As a matter of fact, there is huge room for Hong Kong-Shenzhen cooperation in innovative technology. The Hong Kong-Shenzhen Innovation and Technology Park on the Lok Ma Chau Loop is seen as an important platform for cooperation between the two places. The government should speed up planning and construction and make an early choice of projects for R&D cooperation. Biological medicine, smart city and robotology are believed to be on priority in this regard.
Hong Kong's inno-tech eco-environment and atmosphere keep improving in recent years. Some 20 R&D results by Hong Kong's secondary- and primary-school students and enterprises are on who at the 2017 InnoTech Expo, catching visitors' eyes. Massachusetts Institute of Technology (MIT) of the United States officially opened an innovation and technology centre in Hong Kong yesterday, which will further inject new driving force for inno-tech development in Hong Kong.
25 September 2017
