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To bolster the HKSAR Government’s policy of promoting new industrialisation and enhancing industry support, the Hong Kong Productivity Council (HKPC) has announced a strategic subsidy measure. This initiative, spanning eight months from 1 August 2024 to 31 March 2025, offers a 30% concession on manpower costs for companies applying for the “New Industrialisation Funding Scheme” (NIFS).
The NIFS, launched by the Innovation and Technology Commission under the Innovation and Technology Fund (I&T Fund), is designed to subsidise manufacturers in establishing new smart production lines in Hong Kong. The funding operates on a 1:2 matching format, with the Government contributing one-third and the company contributing two-thirds of the total project expenditure. The maximum funding available for any project is one-third of the total project cost or HK$15 million. Each company is allowed to submit or undertake up to three applications or projects, with a cumulative maximum subsidy of HK$45 million.
HKPC’s manpower costs subsidy encompasses a broad spectrum of services. These include business pain point and demand assessment, development planning for new industrialisation, preparation and recommendations for funding applications, implementation of one-stop smart industrialisation solutions, and related talent cultivation and development. This comprehensive support is aimed at helping enterprises navigate the government funding application process more smoothly, embark on smartification journeys, and enhance their overall competitiveness.
Leveraging HKPC’s scientific research and technological expertise, coupled with the support of the I&T Fund and the NIFS, HKPC will provide extensive support to the industry in establishing smart production lines in Hong Kong. By 2026, HKPC aims to have assisted in the establishment of 80 smart production lines, encompassing both emerging and traditional industries such as life sciences, new materials, electronics, food, and textiles.
The Executive Director of HKPC highlighted the council’s pivotal role in fostering new productive forces and achieving industrialisation in Hong Kong. He pointed to the recent establishment of Hong Kong’s first “Future Manufacturing Hall,” which showcases the revolutionary “Microfactory” concept and advanced manufacturing technologies essential for building smart production lines. This initiative, he noted, is a significant step towards promoting new productive forces in the region.
The HKPC Executive Director stressed that HKPC’s initiatives aim to lower the barriers for enterprises seeking digital transformation and upgrading. By offering the manpower cost concession, HKPC hopes to enable more companies to experience the benefits of digital transformation. The council’s experts are committed to assisting enterprises in harnessing technology, aligning with sustainable development goals, and leveraging smart production lines to elevate their business operations. This collective effort is expected to drive the new industrialisation process in Hong Kong.
The Future Manufacturing Hall serves as a testament to HKPC’s commitment to innovation. It provides a platform for demonstrating advanced manufacturing technologies and the practical applications of the Microfactory concept. This aligns with HKPC’s mission to serve as the strongest backbone for the industrial and commercial sectors, facilitating digital transformation, and upgrading efforts across the board.
HKPC’s new subsidy measure is a comprehensive initiative designed to support Hong Kong’s industrial sector through technological advancement and digital transformation. By providing significant financial incentives and expert guidance, HKPC aims to foster a robust environment for smart production line development, driving new industrialisation in Hong Kong and ensuring the city remains competitive in the global market.
