Development of new quality productive forces

Support I&T Research in Hong Kong

Formulate a development plan for new industrialization in Hong Kong to upgrade the traditional manufacturing industries by making use of I&T
Establish the Hong Kong New Industrialization Development Alliance to bring in talent and resources and build a platform for co-operation between the government and stakeholders
Establish the Third InnoHK Research Cluster, which will focus on advanced manufacturing, materials, energy, sustainable development and national aerospace development
Launch a new round of the Research Matching Grant Scheme, allocating $1.5 billion to support qualifying projects
Set up a $10 billion I&T Industry-Oriented Fund to invest in specified industries, including life and health technology, AI and robotics, semi-conductors and smart devices, advanced materials and new technology
Redeploy $1.5 billion to optimise the Innovation and Technology Venture Fund jointly with the market investing in start-ups within strategic industries
Launch I&T Accelerator Pilot Scheme with a funding allocation of $180 million to attract professional start-up service providers from within and outside Hong Kong to set up accelerator bases on a matching basis
Launch the AI Subsidy Scheme to promote the development of AI in Hong Kong

Develop the Trade Single Window to provide a one-stop electronic platform, which will facilitate trade declaration and customs clearance
Study the changes of supply chains by HKMA, including promoting the digitalisation of trade with the technology and legal framework
Establish a new Fintech Innovation Ecosystem, including elements of Central Bank Digital Currencies, mobile payment, virtual banks, virtual insurance and virtual asset transactions
Review existing procedures to enhance the distribution efficiency of cross boundary goods to develop e-commerce logistics and distribution
Set up Advisory Group on Promoting the Development of LawTech

Carry out 20 digital government and smart city initiatives by the Digital Policy Office, and spearhead the pilot use of a locally developed generative AI document processing application within the government
Develop the Low-altitude Economy by establishing a Working Group, which will explore low-altitude flying applications, amend relevant regulations, promote interface with the Mainland, and plan for low-altitude infrastructure
Conduct a study on streamlining the vetting procedures of license applications for operating Low Earth Orbit satellites for communication purposes
Promote the development of new energy in sustainable aviation fuel consumption, green maritime fuel, and green and low carbon hydrogen energy
Strengthen the Legislative Framework for Intellectual Property (IP) and launch a new AI-assisted image search service
Conclude the arrangement of the Subsidy Scheme to extend 5G coverage in rural and remote areas, and enhance the 5G network capacity at major public event venues

Extending the coverage of the “1+” mechanism to all new drugs, and establish the Hong Kong Centre for Medical Products Regulation
Enhance Hong Kong’s clinical trial capability by establishing the GBA Clinical Trial Collaboration Platform
Establish the Real-World Study and Application Centre for open uploading of health and medical databases to promote co-operation between Hong Kong and Shenzhen
Attract global innovative enterprises and research organisations to set up operations in Hong Kong