Source: Hong Kong Government special administrative region
LCQ8: Promoting development of new industrialisation
(1) as the 2022 Policy Address envisaged subsidising the setting up of more smart production lines in Hong Kong under NIFS with the target of increasing the cumulative number of smart production lines by four times from about 30 back then to over 130 in five years, of the current progress in achieving the target; whether the authorities will consider raising the target number of smart production lines in the light of the progress in achieving the target;
(2) of the specific details of the streamlined procedures under the enhancement measure; whether it has estimated the extent to which the processing time for applications will be shortened after the introduction of the enhancement measure compared with that before the enhancement, and of the number of manufacturers as well as small and medium enterprises which are expected to benefit from the enhancement measure; and
(3) how the authorities will leverage and strengthen the advantages and solid foundations of traditional industries (such as the textiles and garment industry), and support their upgrading and transformation through the integration of innovation and technology, so as to promote the development of new quality productive forces and new industrialisation according to local conditions?
President,
(2) The latest enhancement measure for the NIFS aims to speed up the approval process of applications seeking funding support of no more than $2.8 million by streamlining the relevant documentation requirement and assessment procedures. Depending on the number of applications received, the ITC will increase the frequency of the Committee meetings as appropriate, and to submit the applications to the Committee for consideration and approval by circulation if needed.
(3) New quality productive forces has to be developed according to actual circumstances and local conditions, which facilitate the upgrading and transformation of traditional industries with competitive advantages with the use of innovation and technology (I&T), while simultaneously improve the development ecosystem for new industrialisation.
We are committed to promoting the upgrading and transformation of the traditional manufacturing industry with the use of I&T through a series of policies and measures. These include enhancing the NIFS to support more manufacturers in transforming to smart production, as well as launching the two-year “Pilot Manufacturing and Production Line Upgrade Support Scheme” this year to provide funds to local manufacturers on a matching basis, encouraging them to adopt smart production technologies and upgrade their production lines. Furthermore, we will commence a study within this year on the medium to long-term development of new industrialisation in Hong Kong to explore the upgrading and transformation of the traditional manufacturing sector with the use of I&T and accelerate the development of new industrialisation.Issued at HKT 11:10
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