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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: 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. 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/.   ***END*** Online coverage (Chinese only): Ming Pao Daily News - Link Hong Kong Economic Journal - Link Hong Kong Economic Times - Link am730 - Link Hong Kong Commercial Daily - Link Capital - Link Full Recommendation Report on 2022 Policy Address: Link

PolyU Surges to 79th in Global University Rankings

PolyU jumped 12 spots to 79th from last year’s 91st in the Times Higher Education (THE) World University Rankings 2023. Quoted by the Hong Kong Economic Times’s Editorial, Prof. Christopher CHAO, PolyU’s Vice President (Research and Innovation) and PReCIT Director suggested the government remove barriers that hinder capital and data inflow from the mainland to Hong Kong in order to foster HK’s I&T development. For details, please refer to the newspaper article published at Hong Kong Economic Times below:

The PReCIT Director and Co-Director make suggestions on optimizing the I&T ecosystem and boosting the co-development of the upstream and midstream R&D and downstream application ahead of the Policy Address

The PReCIT Director, Prof. Christopher CHAO and the Co-Director, Prof. Eric CHUI have jointly published an article on how to optimize the I&T ecosystem and boost the co-development of the upstream and midstream R&D and downstream application ahead of the Policy Address. The article is available at Ming Pao Daily News. [Chinese Only]

HKSAR Government should spend more to cultivate long-term research teams for developing I&T ecosystem

Prof. Christopher CHAO, PolyU’s Vice President (Research and Innovation) and PReCIT Director analyzed the contributing factors to the Nation’s progress in its innovation capability in an exclusive interview with am730, amid the news that China has moved up to 11th place in the 2022 Global Innovation Index (GII) published by the World Intellectual Property Organization. Prof. CHAO attributed the Nation’s success in part to the growing financial commitment by the government to researchers and research institutions.  He also recommends HKSAR Government beef up its investment in Hong Kong R&D Centres so that they can effectively connect universities and industries in the I&T value chain. The article has been published at am730. [Chinese Only]

PReCIT Co-Director attends a workshop to introduce the research centre to PolyU students

The PReCIT Co-Director, Prof. Eric CHUI attended a workshop organized by Department of Applied Social Sciences (APSS) of PolyU on 28 September 2022 to introduce the Centre to students studying Doctor of Social Work programme and Research Postgraduate students.  Prof. CHUI introduced the background, directors and core members and research directions of PReCIT to the participants.  He also shared the photos and newspaper clippings of the two successful innovation and technology (I&T) research forums hosted by the PReCIT in August and September 2022 respectively, and introduced the third I&T research forum cum the PReCIT launching ceremony to be held on 24 November 2022.  At the end, Prof. CHUI encouraged the students to think beyond their own academic discipline and try to work with students from different disciplines to build a better future for our city together.

PolyU Innovation and Technology Forum draws collective wisdom of industry leaders in supporting Hong Kong’s I&T development and funding

The Policy Research Centre for Innovation and Technology (PReCIT) of The Hong Kong Polytechnic University (PolyU) on 27 September 2022 hosted a second forum in the Innovation and Technology Forum Series with the topic “Funding Landscape from Research to Commercialization”. About 250 I&T leaders, practitioners, influencers and stakeholders gathered to contribute ideas on how to foster research funding and commercialization for Hong Kong’s I&T development ahead of the Policy Address. Prof. Wing-tak WONG, Deputy President and Provost of PolyU, said “Research is a critical component of the I&T ecosystem. Innovation through research alone, however, cannot help Hong Kong reach its ambitions of being an international I&T hub. Instead, research must be accompanied by funding, knowledge transfer and commercialization. Academia-industry partnership is key to achieving the success we collectively desire.” At the forum, Dr Miranda LOU, Executive Vice President of PolyU; Mr Peter YAN, CEO of Hong Kong Cyberport Management Company Limited (Cyberport); Dr Denis YIP, CEO of Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI); Mr Raymond WONG, Head of Investment of Hong Kong Science and Technology Parks Corporation (HKSTP); and Dr Charleston SIN, Executive Director of the MIT Hong Kong Innovation Node, exchanged insights and ideas about promoting technology commercialization, entrepreneurship and funding. They also addressed the opportunities and challenges of Hong Kong’s I&T development, approaches to foster social innovation, and intellectual property (IP) reform at a panel discussion moderated by Prof. Eric CHUI, Co-Director of PReCIT and Head of Department of Applied Social Sciences of PolyU. Dr Miranda Lou highlighted the unique role of universities in bridging the research-to-market gap through proof-of-concept and technology validation schemes at early stages, nurturing innovation and technology talents through curricular and immersive programmes, supporting start-ups to use universities’ intellectual properties and connecting them with market and resource networks. To date, PolyU has supported more than 450 start-ups for technological and social innovations in different domains. The University will continue to work closely with the government, industry and investors to accelerate the commercialisation of PolyU's research and innovations for greater societal impact. Mr Peter Yan said that venture capital (VC) investment in Hong Kong had increased over the past years, manifesting the precedence investors accorded to I&T development. Given ongoing geopolitical and socio-economic changes, the tech venture market is creating a new landscape. Cyberport continues to actively assist entrepreneurs and start-ups in capitalising on emerging technologies’ development, the Greater Bay Area and regional markets to expand fundraising opportunities, thus accelerating the translation and commercialisation of technology innovations. Dr Denis Yip introduced the ASTRI University Transfer Scheme, sharing how efforts are made to connect the key stakeholders in the technology ecosystem, namely university and research institutes, to reach the ultimate goal of commercialization. Starting from “0 to 1” is taking the first step to create impactful technology innovations; from “1 to 10” will be the crucial process of technology commercialization where ASTRI’s deep technologies will play a pivotal bridging role. Mr Raymond Wong explained that HKSTP is expanding the funding and investment landscape, with over 220 investment cases within Science Park in the past five years raising HK$80 billion. The HKSTP Venture Fund now has over HK$600 million in assets under management, where every HK$1 invested by HKSTP draws external investment of HK$16 to support tech ventures at different stages of funding. Dr Charleston Sin explained the importance of a sustainable business plan for research funding and commercialization. Two start-ups nurtured by PolyU shared their success stories at the Forum. Prof. Pei LI, Co-founder of Grand Rise Technology Limited and Professor of the Department of Applied Biology and Chemical Technology at PolyU, a Forbes Asia 100 to Watch 2022 start-up specializing in biomaterials-based coating, stated that market-driven research was the key to securing funding and commercialization, and that innovation should meet application. Mr Jackson LEUNG, Founder and Director of Vision Science and Technology Co. Limited, an award-winning advanced optometric products R&D company, highlighted that securing the right business team familiar with market needs and peer competition is the key to success. He said IP was very important to start-ups and he hoped the government would give more support to these companies with their IP applications. Tuesday’s forum was co-organised by PolyU’s Department of Applied Social Sciences, the Knowledge Transfer and Entrepreneurship Office, and the Research and Innovation Office. It was supported by Cyberport, ASTRI, HKSTP and the MIT Hong Kong Innovation Node. Founded in 2022, PReCIT is a university-level interdisciplinary policy research centre. Led by Prof. Christopher CHAO, Vice President (Research and Innovation) of PolyU and Director of PReCIT, and Prof. Eric Chui, Co-Director of PReCIT and Head of Department of Applied Social Sciences of PolyU, PReCIT’s primary areas of research include carbon-neutral cities, Greater Bay Area I&T development and the Belt and Road Initiative development in Southeast Asia. The next forum entitled, “Integrating I&T into GBA and the National System” cum PReCIT launching ceremony will be held on 24 November.   For more information about PReCIT’s events, please visit www.polyu.edu.hk/precit/. ***END***   Online coverage of the event (Chinese only): Sing Tao Daily - https://polyu.me/3RhC6xM Headline Daily - https://polyu.me/3SGrr0n Bastille Post - https://polyu.me/3BOzdP1 Video recording of the event: Click Here Photo album of the event: Click Here Speakers' Presentation Files (in PDF format): Dr Miranda LOU - Link Mr Peter YAN - Link Dr Denis YIP - Link Mr Raymond WONG - Link Dr Charleston SIN - Link

ESG Reporting Should Strengthen Assessment and Disclosure on Hidden Carbon Emission

Prof. Christopher CHAO, PolyU’s Vice President (Research and Innovation) and PReCIT Director said in an op-ed in Ming Pao Daily News that most of the listed companies in Hong Kong failed to fully disclose their carbon emissions in their ESG reports.  In particular, the hidden carbon emissions associated with the construction of buildings are rarely reported. Prof. CHAO suggested that the Government establishes auditing methods and guidelines for disclosing carbon emissions in the ESG reports for better assessing and achieving the goal of carbon neutrality. The article has been published at Ming Pao Daily News. [Chinese only]

PReCIT Core Member, Professor Horace MUI explains how to achieve thermal insulation for buildings with building materials

The article has been published at Mingpao. [Chinese only]

PReCIT Director says legislation is essential for promoting the usage of new energy public transport in Hong Kong at environmental technology forum

Supported by PolyU and Policy Research Centre for Innovation and Technology(PReCIT), Road to EcoCity - The Environmental Technology of Hong Kong, China 2022 commenced on 15 September. Professor Christopher CHAO, Vice President (Research and Innovation) and Director of the Policy Research Centre for Innovation and Technology, PolyU, was invited to present carbon reduction-related technology and how Hong Kong and the world could strive towards dual carbon targets as one of the keynote speakers. Citing Hong Kong’s first hydrogen-fueled double-decker as an example, Prof. CHAO emphasized the importance of legislation to promote the usage of new energy public transport in Hong Kong. He also pointed out that Biomimetics will become a popular technology to be applied to buildings for carbon reduction and energy saving in the future. He will lead the working group appointed by PolyU’s President Prof. Jin-Guang TENG to formulate proactive strategies on campus in order to achieve carbon neutrality by 2045. Prof. CHAO also promoted PolyU’s green innovation at the forum by wearing a PU30™ mask, an antiviral, washable & reusable face mask invented by PolyU in 2020. PU30™ mask is already commercialized in the market. The forum is organized by Eco City Foundation and Hong Kong Youth and Tertiary Students Association. Mr Eric CHAN Kwok-ki, Chief Secretary for Administration, and Miss Diane WONG Shuk-han, Under Secretary for Environment and Ecology, were invited as the forum’s officiating guests. Mr CHAN said in his speech that Hong Kong should cooperate with Greater Bay Area to achieve carbon neutrality and join hands to build a green I&T ecosystem. The Government will devote about $240 billion to facilitate carbon neutrality, in turn driving a green economy and creating more I&T job opportunities.   Online coverage: Wen Wei Po - https://polyu.me/3eOK1F6 Dot Dot News - https://polyu.me/3DvldMC People.com - https://polyu.me/3Lm74DC Mini Eastday - https://polyu.me/3r0zU33 快資訊 - https://polyu.me/3QOJekW

Director of PReCIT, Professor Christopher CHAO and Founder & Honorary President of Smart City Consortium, Dr Winnie TANG co-authored an article on how smart planning helps Hong Kong compete for talent

Hong Kong, like other cities around the world, is competing for talent under a highly competitive environment.  Chief Executive John LEE Ka-chiu recently emphasized the importance of securing high-quality talent, especially in the IT and medical sectors as well as other high-end industries and mentioned that it will be put on his Policy Address agenda. To respond to the HKSAR government’s call during the Policy Address Consultation period, Director of PReCIT, Prof. Christopher CHAO and Founder & Honorary President of Smart City Consortium, Dr Winnie TANG co-authored an article to talk about how smart planning helps Hong Kong compete for talent, in which it is suggested that Northern Metropolis may be an option to attract talents. The article has been published at EJ Insight and China Daily. EJ Insight (Link) [English only] China Daily (Link) [English only]