Policy Address | The 14th Five-Year Plan to help build an international innovation and technology center Xue Yongheng: the golden age of innovation and technology is ushered in

The government recently released its latest "Policy Address", which contains a lot of references to innovation and technology-related development plans.

China Resources Entrepreneurship and the City University of Hong Kong today (18th) held a signing ceremony for the establishment of a joint technology innovation investment platform agreement.

The Secretary for Innovation and Technology Xue Yongheng said when he attended that the current government had invested more than 130 billion yuan in unprecedented amounts in the past four years.

At present, the number of start-ups in Hong Kong has increased to about 3,700, and the number of employees in the innovation and technology sector has reached 44,600.

With the "14th Five-Year Plan" supporting Hong Kong to build an international innovation and technology center, he described the innovation and technology sector as a "golden age."

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Xue Yongheng said that the development of innovation and technology depends on the joint efforts of all walks of life, and the active investment of "government-industry-university-research" is equally important.

Today, the cooperation between China Resources Entrepreneurship and City University is the best example of using the advantages of enterprises and universities to generate synergies and accelerate scientific research results.

He mentioned that the "Policy Address" has established a more complete innovation and technology ecosystem for Hong Kong. At the same time, the "14th Five-Year Plan" supports Hong Kong to build an international innovation and technology center. He emphasized the need to further promote the development of innovation and technology. "The innovation and technology sector will usher in a golden age. , We must better seize this once-in-a-lifetime opportunity."

The Secretary for Innovation and Technology Xue Yongheng described that Hong Kong's innovation and technology sector will usher in a "golden age".

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The government has invested more than 130 billion yuan in innovation and technology in 4 years

Xue pointed out that in the past four years or so, the current government has invested more than 130 billion yuan to promote the development of innovation and technology in an all-round way in terms of infrastructure, talents, capital, technology, and scientific research.

He said that in recent years, the innovation and technology ecosystem is described as "vibrant." For example, the number of local start-ups has now increased to about 3,700, which is three and a half times the number in 2014. The number of employees in the innovation and technology industry has also increased by more than 25% to 44,600. , The total amount of venture capital in innovation and technology has soared to 7 times, and the scale in 2020 will be close to 10 billion yuan.

"Locally bred unicorn companies have emerged from nothing, and so far have witnessed the birth of 12 unicorn companies."

Xue also pointed out that since the establishment of the self-created technology venture capital fund, the fund and co-investment partners have invested in 21 local innovation and technology start-ups, involving an amount of more than 120 million yuan and attracting 670 million yuan of private investment.

At the same time, in order to encourage the development of university start-ups, the funding of the University Technology Start-ups Funding Scheme has been doubled from 4 million yuan to 8 million yuan per year.

The two local innovation and technology parks have also launched different plans to provide support to their tenants and incubation companies.

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