During the 14th Five-Year Plan of the Central Committee during its stay in Hong Kong, it mentioned that Hong Kong needs to develop its role as an international innovation and technology hub in the future, and the government has been committed to building Hong Kong into a global innovation and technology center. Promote the development of innovation and technology.
How much expenditure is involved?
What is the expected result?
First look at the innovation and technology industry as a percentage of GDP ▼▼▼
According to data, the economic contribution of the innovation and technology industry in 2019 was 23.4 billion yuan, accounting for 0.9% of GDP, an increase of 0.2 percentage points from 2017.
As for human resources, the government has strengthened STEM education in universities (that is, science, technology, engineering, and mathematics), such as subsidizing more than 1,600 college students enrolled in STEM courses to participate in the innovation and science internship program.
At the same time, a research talent pool plan was launched to encourage university graduates to engage in research. The monthly allowance for each approved research talent is about 18,000 to 32,000 yuan.
As of February 2021, the plan has approved 7,000 applications, involving a total expenditure of approximately HK$2.5 billion.
In addition, the government has also introduced a technology talent admission scheme to facilitate technology companies to hire innovative and technological talents.
In 2020, 116 people applied for work in Hong Kong through this channel, which is an increase from 75 in 2019. However, as of 2021, only 9 people have applied to come to Hong Kong through the program.
In the technology talent admission program, two-thirds are from the Mainland, followed by other Asia-Pacific regions, accounting for about 25%.
As for salary, more than half of the arrivals in Hong Kong have a monthly income of between 20,000 and 39,900 yuan, and nearly 35% of the arrivals have a monthly salary of as high as 40,000 to 79,900 yuan.
According to the Census and Statistics Department, the median monthly income of the professional, scientific and technical activities industry in Hong Kong in 2020 is 25,000 yuan.
According to the calculation of the Bureau of Labor and Welfare, the innovation and technology industry will become the industry with the fastest growth in manpower demand among major industries and emerging industries. The annual growth rate of manpower demand is expected to be 4.3% in the next few years.
In 2027, the manpower demand of the innovation and technology industry will rise to about 57,600, an increase of more than 50% compared to 2017.
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