Hong Kong's reindustrialization needs to develop high value-added industries

The Hong Kong government has vigorously promoted re-industrialization in recent years, and Hong Kong has entered Industry 4.0.

The President of the Hong Kong Productivity Council, Bi Jianwen, stated on a radio program that the new policies and national plans of the Policy Address will help Hong Kong develop into an international technology and innovation center. He encourages Hong Kong to develop innovative technologies with value-added R&D elements, such as research and development. Foods that the world will need in the future, such as synthetic biotechnology: "You can't make fish balls, beef balls, and pineapple buns for a long time, but you have to increase it."

Bi Jianwen said that there is insufficient land supply in Hong Kong and labor costs are high. Not every industry is suitable for development in Hong Kong.

(Profile picture)

Xintian Science and Technology City helps Hong Kong develop into an international science and technology center

Bi Jianwen, President of the Hong Kong Productivity Council, pointed out that the Hong Kong Productivity Council has always supported Hong Kong enterprises to integrate into the Greater Bay Area, strengthen productivity and competitiveness, and promote talent exchange. I believe that the Xintian Science and Technology City and the Central 14th Five-Year Plan proposed in the "Policy Address" will help Innovative technology brings opportunities and helps Hong Kong develop into an international science, technology and innovation center.

HKPC helps Hong Kong enterprises to upgrade and transform the Greater Bay Area and high value-added industries are more suitable for development in Hong Kong

Bi Jianwen said that Hong Kong has insufficient land supply and high labor costs. Not every industry is suitable for development in Hong Kong. However, in the past 20 years, the Bureau of Health Promotion has assisted Hong Kong enterprises to upgrade and transform in the Mainland and the Greater Bay Area. As for some high value-added industries, For example, nanotechnology products are suitable for development in Hong Kong. He said that matching funds established by the government, such as the reindustrialization subsidy program, reindustrialization and technology training program, support enterprises. Enterprises do not need to repay, and the government assumes one-third of the risks of the enterprise in disguised form.

The Hong Kong government has vigorously promoted re-industrialization in recent years, and Hong Kong has entered Industry 4.0.

(Profile picture/Photo by Wu Zhongkun)

Bi Xu said that the policy address proposes the establishment of the Science, Technology and Industry Bureau, which will help re-industrialization and "Industry 4.0". The authorities will provide enterprises with one-stop service and technical assistance, and consultancy services can assist in technology and smart production.

Huang Shaohua, the chairman of Kejin International Holdings Co., Ltd., who applied for government funding, pointed out that re-industrialization needs to cooperate with intelligent production and requires high precision in products, otherwise it will affect quality.

Chen Weicong, Chief Executive Officer of Fine Motors Co., Ltd. pointed out that under re-industrialization, production-related service industries, including R&D, logistics and banking, have important contributions and room for development.

Policy Address｜Research to speed up the construction of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop to establish the "Xintian Science and Technology City" in the Greater Bay Area | Xue Yongheng: The Loop Innovation and Technology Park or the construction of a pedestrian bicycle bridge to allow tenants to travel between Hong Kong and Shenzhen. Budget｜Innovation and Technology Fund Another 9.5 billion injection into the Innovation and Technology Park is expected to create 52,000 jobs

01News