IT Blueprint Envisions 'new Industrialisation' Of HK

The government says it wants to see advanced technologies such as high-end semiconductor chips and new-energy cars developed or even produced in Hong Kong, as part of a "new industrialisation" of the city.

The goal is set out in the administration's new blueprint for innovation and technology development, which was released on Thursday.

The minister for innovation, technology and industry, Sun Dong, said these sectors would strongly drive economic growth and allow Hong Kong to make use of the SAR's unique advantages to serve the needs of the country.

"To realise this new industrialisation, on one hand, we will strengthen support to strategic industries such as new energy vehicles and the semiconductor chips, to set up research and development, or even production lines," he told reporters.

"On the other hand, we will try to assist traditional industries in Hong Kong to integrate and transfer with use of information technology."

Sun added that the government also wants to focus on developing fields such as artificial intelligence and digital technology.

The minister said the plan is to expand the local manufacturing industry, from the around one percent of local GDP it represents now to 1.5 percent in five years and about five percent in a decade.

"This means in the next 10 years for our manufacturing sector, they need to produce HK$400 billion in terms of economic output," Sun said. 

"We are not setting a conservative goal when you look at it this way. We want to be ambitious but we also need to take steady steps towards the goal."

The secretary said the government will provide more support for local universities in research and development, and encourage STEAM education in schools.

It also wants to enhance the ecosystem of innovation and technology, and promote interactive development for the up-, mid- and down-stream sectors.