Synergising with Market Forces to Accelerate Innovation and Technology Development
63. We will promote the full integration between technological innovation and industrial innovation through key infrastructures, including the Hetao Hong Kong Park and San Tin Technopole.
Public‑Private Partnership
64. One of the keys to realising the vision of building the NM into a new international I&T city is to release the potential of the underdeveloped private land therein, and convert them to industrial space and ancillary facilities, thereby providing staunch support for accelerated development of the real economy and industries.
65. We are exploring ways of further encouraging developers owning land in the NM to collaborate with technology or advanced manufacturing enterprises in submitting joint development proposals to the Government. We expect that, through tripartite co-operation, relevant land and corporate resources will be channelled towards the target industries for priority development in Hong Kong. In doing so, the business sector will have greater participation in the I&T transformation of our economy, thereby expediting the NM development through concerted efforts.
Hetao Hong Kong Park
66. Over 60 enterprises have moved into the first two buildings in Phase 1 development of the Hetao Hong Kong Park, taking up around 80 per cent of floor area. Meanwhile, the planning for Phase 2 development has been completed. The two phases together will provide a total floor area of twomillion square metres.
67. We will seek approval from the Legislative Council (the LegCo) to inject a funding of $10 billion to the park company to accelerate the development of the Hetao Hong Kong Park by engaging the market to speed up the disposal of the remaining land parcels under Phase 1 development, providing key infrastructure, further strengthening support to start‑ups and establishing a venture fund.
68. We are seeking to facilitate the convenient flow of personnel, materials, capital and data between the Shenzhen Park and Hong Kong Park. We are also exploring with the Mainland the formulation of specific implementation plans to allow cross‑boundary flow of research data and biosamples, such as "white list" and "green lane" mechanisms to streamline entry/exit procedures and approval processes.
San Tin Technopole
69. San Tin Technopole is an extension of the Loop. Together with the Hetao Hong Kong Park, there will be a coordinated development at upstream, midstream and downstream levels, creating a comprehensive industrial ecosystem. While the Loop focuses on R&D, commercialisation, and pilot production in the upstream and midstream levels, the San Tin Technopole will provide a large piece of land which can help accelerate the commercialisation of R&D results and provide industrial space for prototyping, pilot and mass production. We will establish a dedicated company this year and seek approval from the LegCo to inject $10 billion as initial capital to take forward the development, while leveraging market resources to accelerate the progress.
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