PReCIT makes submission to the 2022 Policy Address on how to foster I&T development and a carbon-neutral city

(16 October 2022) The Policy Research Centre for Innovation and Technology (PReCIT) of The Hong Kong Polytechnic University (PolyU) formally submitted recommendations for the 2022 Policy Address during the public consultation period. The submission covers Hong Kong’s innovation and technology (I&T) development and progress towards being a carbon-neutral city, the Belt and Road, and how the higher education system can support Hong Kong’s I&T integration into the Greater Bay Area (GBA) and the Nation’s development

The key recommendations of the PReCIT are:

1. Strengthening Hong Kong’s Progress as an International Innovation & Technology Hub to Foster the Development of a Carbon-neutral City
   
   As a renowned international financial centre that is expanding into the area of green and sustainable finance, Hong Kong can further develop into a globalcarbon trading centre to attract international capital and meet the huge demand for global transformation funds by supporting the financial ecosystem’s transition towards carbon neutrality. This can be achieved by establishing a real-time carbon tracking and monitoring system, a market-driven carbon emission auction mechanism, and an environmental information disclosure mechanism that complies with international standards.
   
   The Government is advised to provide more research funding to local universities to develop carbon-neutral technologies and innovations, and should also strengthen the development of renewable energy and the promotion of green technology and green electric vehicles. Since ongoing geographical tensions may affect European countries’ commitments to achieving carbon neutrality, the HKSAR Government is suggested to monitor the situation closely to ensure that our carbon neutrality goals and market can maintain resilience.
   
   

2. Seizing Global Opportunities to Foster I&T Development in Hong Kong
   
   In close proximity to the Mainland, a university town in the Northern Metropolis is proposed to foster interdisciplinary research collaboration and communication between universities and the industry across the border, channelling and pooling talents and R&D outcomes for commercialisation, as well as unleashing the potential of the GBA’s economy.
   
   The Government is advised to create a favourable environment for attracting global I&T talents and encouraging tech giants to relocate their headquarters to Hong Kong or to build local research laboratories. For the betterment of the I&T ecosystem, the Government is recommended to promote research applications by enhancing collaboration among universities, the five government-funded R&D institutions and industry. The Government should also revamp the current tendering and listed supplier system so as to enhance wider adoption of I&T products from our start-ups into government projects.
   
   The Mainland has a huge market and actively provides space and supportive policies for talents and enterprises. In contrast, Hong Kong has high-level scientific research talents with rich experience in basic research and quality control. Hong Kong and the Mainland could complement their respective strengths and jointly enhance the entire I&T industry chain and promote academic and research collaboration with the Belt and Road countries.
   

   
   Prof. Christopher CHAO, Vice President (Research and Innovation) of PolyU and Director of PReCIT, said, “Innovation and technology are the new impetus for Hong Kong’s economy. The 20th National Congress of the Chinese Communist Party commencing today will set the stage for the Nation’s priorities and policies for the coming five years and beyond. I look forward to the supportive policies from the central government and the HKSAR Policy Address that will further reinforce Hong Kong’s development into an international I&T hub. PolyU will be dedicated to driving I&T development in Hong Kong through propelling excellent education and impactful interdisciplinary research.”
   
   Prof. Eric CHUI, Co-Director of PReCIT and Head of the Department of Applied Social Sciences of PolyU added, “Talent is the key element for Hong Kong’s I&T development. I look forward to the Policy Address’s new initiatives on the talent pool that will encourage young people to participate in innovation and the Nation’s development, bringing about long-term prosperity to the city.”
   
   The PReCIT Director, Prof. Christopher CHAO, the PReCIT Co-Director, Prof. Eric CHUI, and the four PReCIT core members, Prof. Daniel SHEK, Prof. Haitian LU, Dr Siqi BU and Dr Xueyong ZHAN contributed to the recommendations on the Policy Address.
   
   Founded in 2022, PReCIT is a university-level interdisciplinary policy research centre. The primary areas of its research include carbon-neutral cities, Greater Bay Area I&T development, and the Belt and Road Initiative in Southeast Asia. For more information about PReCIT, please visit www.polyu.edu.hk/precit/.

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Full Recommendation Report on 2022 Policy Address: Link