The Legislative Council meeting was held today (1st), and Legislative Councilor Yau Tak-kan from the science and technology innovation sector raised an oral question, asking the government to explain whether the target set in 2017 of reducing Hong Kong's research expenditure to GDP by the end of the term of the current government The ratio increased to 1.5%.
Xue Yongheng, Secretary for Innovation and Technology, said that Hong Kong has suffered from social riots, geopolitical complications and the epidemic in recent years. The research expenditure ratio in Hong Kong has increased from 0.8% in 2017 to 0.99% in 2020. In addition, the past two years have been affected by the epidemic. It is very challenging to reach the 1.5% target in 2022.
Qiu Dagen asked how the authorities encouraged the business sector to spend more on research and development. Xue Yongheng pointed out that the epidemic and social riots in the past few years have greatly affected private companies’ investment in scientific research, especially in research and development.
He pointed out that Hong Kong should make good use of its advantages of internationalization to attract overseas technology institutions to settle down. For example, the innovative Hong Kong R&D platform launched by the government has attracted more than 30 top technology institutions and universities in the world to jointly set up laboratories with local universities. With 1,500 experts from home and abroad, he is full of confidence in the future development of innovation and technology in Hong Kong, and believes that innovation and technology in Hong Kong will have great potential.
Open to launching I&T bond investment
Lu Songxiong of the Federation of Trade Unions said that many citizens want to participate in innovation and technology investment, but the threshold for venture capital funds in the market is high and the risks are quite high. He asked whether the government will launch venture capital bonds similar to green bonds to bring long-term and stability to the public. 's earnings.
Xue Yongheng pointed out that the government is constantly considering different methods so that the public can benefit from the development of innovation and technology. Hong Kong is now the second largest biotechnology fund-raising center in the world, and the fund-raising process is open to public participation. The government is open to launching innovation and technology bonds.
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