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In a significant move for Hong Kong’s technology landscape, the Hong Kong Science and Technology Parks Corporation (HKSTP) has forged a strategic partnership with a large business company, culminating in the signing of a Memorandum of Understanding (MoU) aimed at establishing a Technology Innovation R&D Centre at the Hong Kong Science Park.
This collaboration signifies a substantial investment by the company, pledging a minimum of US$200 million (approx. HK$1.56 billion) and the recruitment of over 300 research personnel by 2027. The primary objective is to fortify the smart living applications cluster within the Science Park, reinforcing Hong Kong’s reputation as a pioneering smart city.
Under the joint leadership of the ITIB and OASES, the partnership is poised to propel the development of local smart cities. The MoU signing ceremony, witnessed by key figures such as Mr Albert Wong, CEO of HKSTP and the Executive Director and Vice Chairman of the group, sets the stage for transformative innovation in technology and industry.
Professor Sun Dong, Secretary for Innovation, Technology, and Industry, highlighted the longstanding ties between Shandong Province and Hong Kong, emphasising the wealth of opportunities this collaboration presents for both entities. The partnership not only fosters Hong Kong’s growth as an international innovation hub but also aligns with Shandong’s strategy to utilise Hong Kong as a launchpad for global expansion and foreign investment attraction.
Albert Wong expressed enthusiasm about the recent influx of leading enterprises from mainland China into the Hong Kong Science Park, strengthening its position as a burgeoning international hub for Innovation and Technology (I&T). He emphasised HKSTP’s commitment to deepening collaboration with Shandong Province, leveraging opportunities within the China-SCO Local Economic and Trade Cooperation Demonstration Area.
The company’s Executive Director underscored Hong Kong’s status as a key gateway for companies seeking to expand internationally, lauding the Science Park’s top-notch infrastructure, research talent, and robust investor network. The company’s decision to establish operations in Hong Kong aligns with its global aspirations and the conducive environment provided by the Science Park.
The MoU outlines the company’s commitment to driving technological advancements in smart integration, AIoT, voice interaction, energy conservation, environmental protection, remote maintenance services, and digital enhancement. The Technology Innovation R&D Centre will facilitate knowledge exchange in technology research for home appliances, encompassing cutting-edge materials, sensors, chips, electric motors, and thermal conductivity.
The initiative echoes the objectives outlined in the “Hong Kong Innovation and Technology Development Blueprint,” underscoring the government’s push toward a digitally powered economy and the realisation of a smart Hong Kong. HKSTP’s dedication to nurturing innovative enterprises plays a pivotal role in steering Hong Kong towards its smart city transformation.
In recent visits between the People’s Government of Shandong Province and HKSTP, a mutual exchange of insights into I&T developments was facilitated. This effort aimed to foster future technological exchanges and cooperation, leveraging the strengths of both regions to enhance competitiveness. The company’s decision to establish a foothold in the Hong Kong Science Park serves as an influential model for Shandong enterprises, showcasing the potential to leverage Hong Kong’s advantages for global market penetration.
The collaboration heralds a new era of technological innovation in Hong Kong, poised to reshape the city’s landscape into a vibrant, tech-driven smart city, fostering economic growth and global competitiveness.
