China pledges funding for local sci-tech development

President Xi ordered state agencies to lend assistance to local scientists.

President Xi Jinping has vowed to provide the necessary financing fuel to back science and technology development between Hong Kong and the Mainland following a letter addressed to him by 24 Hong Kong academics from the Chinese Academy of Sciences and the Chinese Academy of Engineering last June.

Government departments have already been deployed to lend assistance to local scientists in pursuit of sci-tech cooperation, state agency Xinhua News reported. This includes national sci-tech funding and favourable policies on tariff for equipment transfers.

“Sixteen partner labs of key state laboratories based in HKSAR and two partner labs in Macao Special Administrative Region have received direct support from national programmes,” the report added.

Also read: Tech talent scheme to launch in June

Similarly, all scientific research institutions established in the mainland by Hong Kong are enjoying preferential tax policies to promote sci-tech innovation.

“A solid sci-tech foundation and a large number of sci-tech talent who love the country and Hong Kong, possessed by the HKSAR, are an important force in implementing the national strategy of innovation-driven development and making China a country of innovators,” Xi said.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Managing conversations to increase conversions
Enterprises that used chat management platform, imBee, saw a 25% increase in sales. 
Where to invest your millions in real estate
Realtors cited two property types that can offer higher upside potential in return.
Property market ends downcycle 
Real estate expert, Cathie Chung, said that the market will have a reset by 2023.
No spacious homes for Hong Kong’s poor anytime soon 
Home size adjustment will be unlikely in the city after the waiting time for public housing hit a record-high.