ASTRI Welcomes 2024 Policy Address Reform and Innovate for the People, Propel HK as a Leading Global I&T Hub

[16 October 2024, Hong Kong] The Hong Kong Applied Science and Technology Research Institute (ASTRI) warmly welcomes the innovation and technology (I&T) initiatives outlined in the Chief Executive’s 2024 Policy Address. These initiatives are to promote the development of new industrialisation and I&T industry, drive research and development and digital transformation, increase land space for science and technology innovation, and advance the development of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop. These will also harness technology to achieve high-quality economic development and cultivate New Quality Productive Forces.

Ir Sunny Lee, Chairman of ASTRI, said the Policy Address aligns with national objectives to deepen reforms, aiming to integrate innovative technology across various disciplines and develop New Quality Productive Forces comprehensively. “The HKSAR Government is making significant strides by adopting a wide-ranging approach to boost Hong Kong’s economic and technological innovation. They are actively incorporating life and health technology, AI and robotics, semi-conductors and smart devices, advanced materials and new energy into industrial policies, benefitting the public. These initiatives span sectors such as transport, construction, finance, education, tourism, sports, and healthcare, with the aim of strengthening governance and advancing digital economy.” He noted that these technologies are among ASTRI’s research strengths and expressed eagerness to collaborate with more public and private enterprises, as well as government departments, to enhance efficiency through technology.

Promote Low-altitude Economy and Wider Collaboration
ASTRI has been driving “Integrated Sensing and Communication” technology, and is delighted to learn from the Policy Address that a working group on developing low-altitude economy will be set up to formulate development strategies and action plans, draw up regulations and map out plans for the required infrastructure and networks which will be used for rescues, surveys and delivery of goods and passengers. It will also drive the development of communications technologies, AI and the digital industry, uncovering new growth opportunities for the local economy. ASTRI looks forward to integrating IoT sensing technologies into communication systems to build an efficient and collaborative network that supports the development of low-altitude economy.

ASTRI also welcomes the Policy Address’s proposal to establish a HK$10 billion I&T Industry-Oriented Fund to systematically develop an I&T ecosystem. The Policy Address also announced the formation of the Committee on Education, Technology and Talents, aiming to position Hong Kong as an international hub for high-calibre talent. Additionally, the Hong Kong New Industrialisation Development Alliance was introduced to foster closer collaboration among the government and the industry, academia, research, and investment sectors. ASTRI looks forward to collaborating with this new alliance and will continue to strengthen the I&T ecosystem through four alliances focused on microelectronics, smart mobility, fintech and ESG, as well as construction and property technologies. ASTRI is committed to nurturing a new breed of I&T workforce through its talent programmes.

Enhance Hong Kong-Mainland Collaboration
Ir Sunny Lee emphasised that the holistic I&T policies outlined in the Policy Address encompasses both software and hardware, as well as Mainland-Hong Kong collaboration, highlighting I&T as a key driver of Hong Kong’s future growth. He stated that the support of the HKSAR Government is crucial for the city’s I&T advancement: “As Hong Kong’s cooperation with the Greater Bay Area strengthens, we anticipate further expansion and integration between I&T research and industries, enhancing the overall competitiveness of the technology industry chain, and contributing to the development of New Quality Productive Forces for the nation.”

As featured in the Policy Address, the Development Outline for the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone will be published later this year, developing the Loop into an internationally competitive R&D transformation and pilot production base for industries, a hub for pooling global I&T resources, as well as a testing ground for institutional and policy innovation.

Dr Ying Huang, Acting Chief Executive Officer, and Chief Technology Officer of ASTRI said he is delighted to see all these encouraging new measures. “With our expanded footprint in Hetao, Shenzhen earlier this year, ASTRI would further expand our business in the Mainland, and accelerated I&T collaboration with our Mainland counterparts in the ecosystem. Several R&D and testing projects have commenced, aiming to facilitate technology transfer and commercialisation, as well as promoting talent, technology and information exchanges while cultivating top-tier talent.” He added: “ASTRI’s R&D team will fully support the development of diverse innovative technologies, assisting the HKSAR Government in advancing new industrialisation and I&T industries.”

Ir Sunny Lee, Chairman of ASTRI, said the Policy Address aligns with national objectives to deepen reforms, aiming to integrate innovative technology across various disciplines and develop New Quality Productive Forces comprehensively

Dr Ying Huang, Acting Chief Executive Officer, and Chief Technology Officer of ASTRI, stated that its R&D team will fully support the development of diverse innovative technologies, assisting the HKSAR Government in advancing new industrialisation and I&T industries