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.