HKSTP's Response to the 2020-21 Budget

Hong Kong Science and Technology Parks Corporation (HKSTP) welcomes the continued support for Hong Kong’s innovation and technology (I&T) sector and the allocation of additional resources to further its development, as announced in the Financial Secretary's 2020-21 Budget today.

In the 2020-21 Budget, the Government has earmarked HK$3 billion for the Phase 2 of the Science Park Expansion Programme. To strengthen the supporting infrastructure and the growth of I&T ecosystem, HKSTP has commissioned a consultancy to conduct a master planning study to explore the development potential. According to the preliminary study, the Phase 2 expansion may cover two annex buildings together with podium extension which will create more laboratory spaces and facilities.

In addition, the Government has allocated a HK$2 billion funding to convert an old factory in the Yuen Long Industrial Estate into the Microelectronics Centre that will provide dedicated manufacturing facilities and bring new impetus to Hong Kong's advanced manufacturing industry. The proposed project is subject to the approval by the Finance Committee of the Legislative Council.

HKSTP will ensure the prudent use of resources and conduct detailed implementation planning. We will continue working closely with our stakeholders to leverage I&T as an enabler for building a diversified economy.