SITI talk at Green Tech Summit 2024 (English only) (with photos)
SITI talk at Green Tech Summit 2024 (English only) (with photos)
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The following is a speech by Professor Sun Dong, Secretary of Innovation, Technology and Industry, at the Hong Kong Green Tech Summit 2024 today (October 30).
Alice Chow (Stanford GSB Hong Kong Alumni Club Chairman), Jason Tu (MioTech Founder and CEO) and participants of Hong Kong Green Tech Summit 2024;
Today, I am pleased to be able to participate in this important occasion, the first-ever Hong Kong Green Tech Summit 2024 – Tech Afternoon. This event brings together leading experts, policy makers, and innovators to discuss and explore the latest advances in innovation and technology (I&T). Focuses on green technology and sustainable practices.
In the face of the growing challenge of climate change, promoting green transformation to achieve sustainable development is a key challenge for countries around the world. Hong Kong brings together a large number of green technology companies and talents, giving it great advantages in promoting the development of green technology. Currently, Hong Kong’s two I&T hubs, namely Hong Kong Science Park and Cyberport, are home to more than 250 green technology companies, some of which have globally competitive technology and are well-positioned in mainland and overseas markets. Some companies have successfully expanded into This will enable Hong Kong to contribute its strengths to tackling global climate challenges. Green technology plays a key role in supporting carbon emissions reduction and environmental protection, and serves as a key engine for accelerating green transformation. Promoting the development of green technologies is a long-term and difficult challenge. Throughout this process, stakeholders from different sectors will collaborate across sectors to identify the pain points and needs of different industries in the low carbon transition. Together, the companies aim to develop and improve solutions, support and promote applications, and balance environmental protection and social needs while promoting economic development.
Under the National 14th Five-Year Plan, Hong Kong is positioned as an international I&T center. The Hong Kong Special Administrative Region government has focused on strengthening Hong Kong’s I&T ecosystem by rolling out various initiatives in recent years, and Hong Kong has been ranked first in Asia and third in the world among the world’s top 100. I’m happy to share it with you. Additionally, in the 2023 World Digital Competitiveness Rankings published by the International Management Development Institute, we were ranked 2nd in the world in the “technology” element and 10th overall.
In fact, Hong Kong has strong capabilities in basic research and development (R&D). Our city is the only city in Asia that is home to five of the world’s top 100 universities. Moreover, the level of internationalization of our I&T workforce is world-leading, with four of our universities ranked among the top 10 most international universities in the world. Combined with our strong intellectual property protection regime, these can help pool global innovation resources in Hong Kong.
To support the development of various I&T industries, including green technology, the government has been proactive in strengthening Hong Kong’s I&T ecosystem. This ecosystem depends on the inclusive development and active interaction of upstream, midstream and downstream sectors. To this end, the government has actively promoted the two-way development of the upstream, midstream and downstream sectors.
To further promote upstream basic research and development, we strive to strengthen Hong Kong’s research and development strengths and strengthen the university’s capacity for breakthrough research. The government has implemented various initiatives to fund research and development projects such as green technology. For example, the Green Tech Fund provides focused financial support to research and development projects that help Hong Kong decarbonize and strengthen environmental protection. In addition, the I&T Fund funds research and development projects in various technological fields, including green technologies.
Research and development centers established by the government carry out research and development work in various fields including green technology. For example, one of the centers has developed a new generation of materials that incorporate plant stems into biodegradable plastics. This can help produce environmentally friendly products at competitive costs.
To help transform and deliver R&D results in the midstream, last year we launched a $10 billion Research, Academic and Industry Sector One initiative that provides matching funding to high-potential university research teams. Plus scheme (RAISe+) has been launched. To become a successful start-up company to transform and commercialize research and development results. We welcome investors from all over the world to explore cooperation opportunities with Hong Kong universities and invest in RAISe+ projects.
Regarding promoting downstream development of new industrialization, we will launch a $10 billion new industrialization promotion plan this year to provide financial support for companies in strategically important industries to set up new smart production facilities in Hong Kong. launched. Such industries include life and health technology, advanced manufacturing and new energy technology industries, as well as AI and data science. To further support technology companies, the government introduced enhanced measures in the New Industrialization Financing Program to encourage local manufacturers to convert into industry. Smart manufacturing. This system benefits companies to upgrade and transform by adopting green technologies.
Additionally, to further spur new industrialization, the Executive will establish a $10 billion I&T Industry Orientation Fund in his 2024 Policy Address (PA) to provide funding for announced the formation of Of Funds. Increased market capital for investment in specific emerging and future industries of strategic importance.
Hong Kong’s two I&T flagships, Hong Kong Science and Technology Park Corporation and Cyberport, have been providing incubation programs and one-stop support services to technology startups. These I&T parks have fostered a group of passionate, high-quality green technology companies. 2024 PA also announced the launch of the I&T Accelerator Pilot Scheme, with a funding allocation of $180 million on a 1:2 matching ratio between governments and institutions, with a grant cap of $30 million. The aim is to attract foreign investors with US dollars. A professional startup service provider with a proven track record in Hong Kong and abroad will establish an accelerator base in Hong Kong.
Ladies and Gentlemen, Hong Kong is committed to establishing itself as an international I&T center. We would like to express our sincere gratitude to the Stanford GSB Hong Kong Alumni Club and MioTech for hosting this meaningful event. We encourage all participants to engage in meaningful discussions, share best practices, and build collaborations that drive real change. Together, let us take advantage of the opportunities before us and consolidate Hong Kong’s position as a global leader in green technology.
thank you.
Ends/Wednesday, October 30, 2024
Published at 15:15 Hong Kong time
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