HKSTP and Chinese Academy of Sciences Holdings Join Hands to Seize New Opportunities Brought by the Belt and Road Initiative through Innovation and Technology

(Hong Kong, 1 December 2017) - Hong Kong Science and Technology Parks Corporation (HKSTP) and the Chinese Academy of Sciences Holdings Co. Ltd. (CASH) today co-organised the “Forum on Technology and Innovation for the One Belt One Road and Greater Bay Area Development” in Hong Kong Science Park.

The forum discussed on ways in which Hong Kong can capitalize, through technology and innovation, on the opportunities brought by the Belt and Road Initiative and the Greater Bay Area development. Hong Kong is noted for its unique geographical location, local expertise in international business, free capital and talent flow, as well as open information access.

At the event, HKSTP and CASH signed a memorandum of understanding (MoU) on a cooperation framework to foster the development of green technology and other related industries, with the aim to drive the creation of an international innovation and technology hub in the Greater Bay Area.

The forum was officiated by Mrs Carrie Lam, Chief Executive of the HKSAR Government and Professor Bai Chun-li, President of the Chinese Academy of Sciences and joined by Professor Tan Tie-niu, Deputy Director of the Liaison Office of the Central People's Government in the HKSAR. Other luminaries shared their views and insights at the conference, including Mr Nicholas Yang, Secretary for Innovation and Technology of the HKSAR Government; Dr Zhang Jing-an, Chief of Science and Technology Daily and Member of the Leading Party Group, Ministry of Science & Technology; Dr Fu Yu-ning, Chairman of China Resources Group; and Dr Ma Wei-hua, Director and Chief Mentor of Financial Data Technologies Limited.  The event was a platform for government officials, industry leaders, prominent researchers and academia from both mainland China and Hong Kong to exchange ideas and views on how Hong Kong can collaborate with the neighbouring mainland cities under the Belt and Road Initiative, by leveraging its unique geographical and infrastructural advantages.

Green technology, or renewable and sustainable technology, is one of the five technology clusters HKSTP has been focusing on, and concurrently at the forum, HKSTP and CASH signed a MoU on “CASH Green Development International Laboratory”. Through the formation of the laboratory, both parties will create new platforms for international exchange, R&D and technology transfer, capital investment and talent development. Together, they will drive the direction and strategic focuses of green technologies and industries. Key areas and projects include biotechnology development, artificial intelligence, fintech development, new energy materials science. Through this collaboration, HKSTP and CASH hope to expedite the transfer and commercialisation of these new technologies and solutions.

Mrs Fanny Law, Chairperson of HKSTP, said: “HKSTP is delighted to form a new partnership with CASH and establish the ‘CASH Green Development International Laboratory’. HKSTP will also proactively recommend key projects to the laboratory, covering key areas including biotech applications, artificial intelligence, fintech, new energy and materials science. These projects can help accelerate the sharing and commercialisation of these new technologies and solutions. Combining Hong Kong’s solid IT infrastructure, taxes, talent, marketing services and the professional technology incubation services from CASH, this collaboration will provide comprehensive and integrated incubation services for technology companies and help enhance the quality and efficiency of these innovation and technology projects. This, in turn, would further accelerate the formation of an open economy, spearheaded by creativity and innovation in the Greater Bay Area.”

Dr Suo Ji-shuan, General Manager of CASH, added, “The ‘CASH Green Development International Laboratory’ uses a unique ‘talent + carrier + fund + service’ model that covers the R&D of products and applications, technology incubation and acceleration, development of both upstream and downstream industry value chain, as well as working with relevant partners to provide financial support and talent development services. Through working with HKSTP, we can better meet the needs and development cycle of enterprises in the mainland, and leverage Hong Kong as a platform to facilitate international technology transfer and cooperation. Ultimately, we want to make China a global hub to promote commercialisation and industrialisation of the research results.”

Under the MoU, CASH will leverage the research resources of the Chinese Academy of Sciences (CAS) and recommend start-ups and enterprises with high potential to set up operations in Hong Kong Science Park. Participating companies will receive R&D support from an advisory team formed by CASH, CAS and other leading Chinese institutions and business entities. Meanwhile, HKSTP will offer them office space, R&D facilities and other value-added services, including roadshow support, business training, entrepreneurship competitions and industry exchange opportunities, etc.