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  • Writer's pictureHKEIA HKEIA

The Hong Kong Electronics Industry Chamber of Commerce welcomes the adoption and implementation of a number of recommendations put forward by the Chamber of Commerce in the 2022-23 Budget

We thank the Financial Secretary for adopting a number of proposals proposed by the Hong Kong Electronics Industry Association over the years, and this year he continued to accept our participation in the "2022-23 Budget" consultation meeting : Suggestions put forward by the innovation and technology community, including: suggestions on the "Future Fund", support for the development of the digital economy, support for start-ups and technology investment, and key development related to innovation and technology.

Innovative Technology and Digital Economy

  • We welcome the government’s establishment of the Digital Economy Committee and the implementation of the Chamber of Commerce’s recommendations for the “Future Fund” to invest in innovation and technology-related projects, and further increase the allocation of the “Future Fund” to the “Hong Kong Growth Portfolio” by $10 billion, of which NT$5 billion will be used to establish a new investment fund - the "Strategic Innovation and Technology Fund" to enhance the competitiveness of Hong Kong's innovation and technology sector.

  • We recommend that the government speed up its support for commercializing the results of innovative research and development. Therefore, we welcome the government’s support for the “University Technology Start-up Funding Scheme” under the “Innovation and Technology Fund” to support start-up teams established by universities to commercialize their research and development results. ization, thereby creating economic value. In order to further implement research and development results and double the amount of funding for each university to 16 million yuan, the new funding will provide university start-ups with a one-to-one funding match with private investment. Each start-up will have a maximum annual Receive a subsidy of NT$1.5 million for a maximum period of three years.

  • The Chamber of Commerce supports the government to allocate a total of NT$3.5 billion to the Hong Kong Trade Development Council in the next three years to launch the "Mainland Development Support Plan" and collaborate with chambers of commerce and other organizations to organize training, exchanges, business visits and publicity and promotion activities in the Greater Bay Area.

  • The Chamber of Commerce welcomes the Budget’s proposals to promote scientific research and technology application, especially in the digital green economy, such as the additional injection of NT$200 million into the "Low Carbon Green Research Fund" and other related plans.

The Hong Kong Electronics Industry Chamber of Commerce will continue to assist the government and jointly spare no effort for the industry and economic development. We hope that the government can provide relief to the people and overcome the difficulties, just as Dr. Wu Guoyao, President of the Chamber of Commerce, emphasized when submitting suggestions at the Financial Secretary's Consultation Meeting to "protect enterprises, promote expansion, talent training, and construction "International Innovation Center" and so on, continue to increase resources to relieve citizens, provide breathing space for small and medium-sized enterprises and start-ups, support the downturn of the economy, invest in the future, and prepare for the medium- and long-term development of the economy.

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