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Hong Kong Will Inject $5 Billion Into Innovation and Technology

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open eyes opinion {source: Hong Kong’s Information Services}

Hong Kong Government to boost their Innovation and Technology Fund

To boost development in innovation, the Government will inject $5 billion into the Innovation & Technology Fund, Chief Executive CY Leung announced in his 2015 Policy Address.

An Enterprise Support Scheme will also be developed to enhance funding support for private sector research and development projects.

The Government will also establish an Innovation & Technology Bureau to provide dedicated leadership and stronger co-ordination between the Government, industry, academia and the research sector.

Speaking on the creative industry, Mr Leung proposed to provide additional funding for the Film Development Fund to support the movie-making industry.

The Government has also set out supportive measures to modernise local agriculture and support brand building, to improve farmers’ competitiveness and income.

Hong Kong’s tradition of the rule of law and its legal system are conducive to developing legal and dispute resolution services, and the Government will promote maritime arbitration services, he added.

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