Thank you, Deputy President. With the advancement of scientific and technological innovation in and upgrading of industries, the Hong Kong-Shenzhen Innovation and Technology Park (“the Hong Kong Park in the Loop”), as an important development project of the Guangdong-Hong Kong-Macao Greater Bay Area, carries infinite hopes and opportunities. The Loop is located just a river apart from Shenzhen, thereby enjoying the advantages of “one country, two systems”, and its development has adopted the concepts of “one river, two banks” and “one zone, two parks”.
The development of the Loop is a project with the right timing, favourable environment as well as support from different parties. “Timing” refers to the fact that the development of innovation and technology (“I&T”) is a major global trend, and it is a good timing for Hong Kong and Shenzhen to engage in joint development. “Favourable environment” refers to the fact that the Hong Kong Park in the Loop and Shenzhen are only a river apart, and their close geographical location makes cooperation in various aspects very easy. “Support from different parties” refers to the integration of the Mainland and Hong Kong, under which both Shenzhen and Hong Kong share the proactiveness to do a good job in the development of I&T, so that we can complement each other on all fronts to achieve the best results.
Scientific and technological innovation is also an important direction of national development and the core of developing new quality productive forces as well. With the strong support of national policies, we need to seize the unprecedented development opportunities to build a world-class industry-academia-research platform in the Hong Kong Park in the Loop, which will serve as an ideal anchor for international top-notch laboratories in Hong Kong to establish presence.
The Hong Kong Park in the Loop is located in the northern part of Hong Kong, being close to the Lok Ma Chau Spur Line and the Lok Ma Chau Control Point, with access to the Futian Control Point and the Huanggang Control Point in Shenzhen. Occupying an area of about 87 ha, the Park is developed in two phases, with Phase 1 further divided into three batches. Among the eight buildings of the first batch, the first three buildings are planned to be commissioned in the middle of next year, while the remaining five are expected to be completed in 2027 to 2028. The Hong Kong-Shenzhen Innovation and Technology Park Limited signed Memoranda of Understanding with about 60 organizations in April 2024, and the first batch of tenants will begin to move in this year. The Government has decided to expand the area of the Park from 540 000 sq m to 1 million sq m in order to develop a high-quality I&T ecosystem, as well as attract more high-quality enterprises and organizations.
In my opinion, doing a good job in the following aspects will result in better development of the Hong Kong Park in the Loop.
First of all, the movement of people will increase significantly upon the orderly completion of the Park. As such, the implementation of contactless clearance and provision of ancillary transport facilities are of immense importance. Contactless clearance refers to the use of facial recognition technology to realize the rapid movement of people without the need to go through traditional border inspection procedures. This measure will substantially enhance the efficiency of cross-boundary travel and facilitate the internationalized development of the Park. The first pilot scheme for facial recognition technology in Hong Kong has been introduced at Chung Ying Street in Sha Tau Kok, and it can be introduced to the Loop subject to successful implementation in the future. Regarding ancillary transport facilities, the Government needs to strengthen cooperation with Shenzhen to improve the cross-boundary transport network. For example, the Government should ensure that the transport frequency can meet the demand upon completion of the Park, and enhance the service level of transport facilities, so as to promote in-depth integration of the economies of the two places.
Hong Kong has already invested more than $32.4 billion in this project. The Loop is full of development opportunities, hence Shenzhen and Hong Kong should leverage their respective strengths and carry out division of labour effectively. For example, the Mainland can focus on the manufacturing of I&T and artificial intelligence products, while Hong Kong enjoys distinct advantages in attracting global scientific research talents, testing and certification, and the medical field. Promoting products of scientific researches to the international market is even Hong Kong’s strength.
Hong Kong has strong capabilities in basic research and development (“R&D”), we have 5 of the world’s top 100 universities and 2 of the world’s top 40 medical schools, therefore possessing rich experience in biomedical science and testing technologies. The Government should continue to increase its investment in relevant R&D projects, and support higher education institutions and research institutes to carry out innovative researches. At the same time, it should encourage collaboration between enterprises and research institutes to promote technology transformation and industrialization. The medical and healthcare industry is one of Hong Kong’s major advantages. With an ageing population and increasing healthcare needs, the medical and healthcare industry has great development potential. The Government should formulate development planning for a longer term, support healthcare institutions to introduce advanced technologies and facilities, enhance service quality, and strengthen the training of healthcare talents.
Hong Kong has an internationalized financial market and a common law system accepted by the West, as well as being an important commercial arbitration centre, we can provide diversified financing and listing channels for start-ups. The Government should strengthen cooperation with international investment institutions to assist start-ups in growing from small to large, from theory to application and productization, and then tapping into the international market, thereby guiding them to go global from China. The more successful cases we have, the more we can make a name for ourselves, so that we can attract more high-quality enterprises and organizations to establish presence in the Hong Kong Park in the Loop.
I so submit.