Financial Secretary Strengthens Jiangsu-Hong Kong Ties Through Economic Cooperation and Industry Visits

FS concludes visit to Nanjing

The Financial Secretary, Mr Paul Chan, today (October 14) continued his visit to Nanjing with a delegation, meeting with the leadership of Jiangsu Province and visiting advanced manufacturing and pharmaceutical enterprises.

Mr Chan had a breakfast meeting with member of the Standing Committee of the CPC Jiangsu Provincial Committee and Executive Vice Governor of Jiangsu Province, Mr Zhang Wenbing, this morning. They exchanged views on deepening economic and trade co-operation between Jiangsu and Hong Kong, strengthening collaboration in innovation and technology (I&T), and supporting enterprises in their international expansion. Mr Chan said that the visit had strengthened the delegation's ties with the Jiangsu Provincial Government, universities, I&T institutions and enterprises. Hong Kong will actively follow up on various co-operation projects to deliver more concrete results in Jiangsu-Hong Kong co-operation.

The delegation then visited a Jiangsu-based enterprise specialising in energy and energy-saving equipment to learn about its technology research and development (R&D), commercialisation of research outcomes and business development. With high-efficiency heat transfer technology at its core, the enterprise develops and manufactures key equipment for sectors such as clean energy and chemicals. Its technologies are also applied to industrial waste heat recovery and efficient energy use, helping industries conserve energy, reduce carbon emissions and pursue green transformation.

The delegation also visited a pharmaceutical enterprise to learn about its drug R&D, production and global marketing operations. They met with the enterprise's management to learn about its future development plans, including the use of artificial intelligence to enhance drug R&D efficiency, the development of cutting-edge therapies, and strategies for expanding its international business.

During the visits to the two enterprises, Mr Chan said that I&T is a key area of co-operation between Jiangsu and Hong Kong. The two places have ample scope for collaboration in technology R&D, the commercialisation of research outcomes and international market expansion. They can further promote two-way investment and personnel exchanges, and work together to foster deeper integration of technological and industrial innovation. On innovative drugs, enterprises can leverage Hong Kong's strengths in drug R&D and the opportunities arising from reforms of its drug approval regime to accelerate the development, application andmarket expansion of innovative drugs.

He encouraged the two enterprises to make good use of Hong Kong's internationally connected capital markets, experience in aligning with the highest international standards, high-quality professional services, and strengths as a hub for international financial institutions and talent, to scale up their businesses and bring more competitive technologies, products and solutions to overseas markets.

Mr Chan and the delegation concluded their visit to Nanjing this afternoon and will return to Hong Kong in the early evening.

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (second left) and delegation members exchanging views with company president Ms Cheng Cheung-ling (third right) and representatives during their visit to a pharmaceutical enterprise. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (second left) visiting a pharmaceutical enterprise. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (fourth left) and delegation members with company president Ms Cheng Cheung-ling (fourth right) and represetatives during their visit to a pharmaceutical enterprise. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (centre) visiting an energy and energy-saving equipment enterprise in Jiangsu and receiving a briefing on the company's development. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (centre) and delegation members with company representatives during his visit to an energy and energy-saving equipment enterprise in Jiangsu. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, led a delegation of about 30 members to continue his visit to Nanjing today (October 14). Photo shows Mr Chan (left) meeting with member of the Standing Committee of the CPC Jiangsu Provincial Committee and Executive Vice Governor of Jiangsu Province, Mr Zhang Wenbing (right) at a breakfast meeting. Source: HKSAR Government Press Releases

Assessment Committee supports nine applications under Pilot Innovation and Technology Accelerator Scheme

The Innovation and Technology Commission announced today (October 14) that the Pilot Innovation and Technology Accelerator Scheme (PITAS) Assessment Committee (the Assessment Committee) under the Innovation and Technology Fund has supported in principle nine applications. The list is as follows:

• BJ-HK-SZ Innotech Accelerator Limited

• China Outbound Accelerator Limited

• China Resources Corporate Services (HK) Limited

• Hong Kong Branch of The National Torch Academy of Innovation and Entrepreneurship Co., Limited

• Surrich Consulting Co., Limited

• Tenwings Accelevator Company Limited

• ventureLAB Smart City Accelerator Limited

• Xi'an Jiaotong University Hong Kong Institute of Advanced Studies Co., Limited

• Zhong Xing No.1 Investment Fund Limited

The Secretary for Innovation, Technology and Industry, Professor Sun Dong. Photo source: reference image

The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, "The nine selected organisations possess extensive networks and resources in areas such as AI, robotics, biomedicine, new energy and new materials. They will provide value-added services including co-working space, research and development support, investment matching and market development to accelerate the growth of innovation and technology (I&T) companies in Hong Kong. The Hong Kong Special Administrative Region Government will continue to enhance the I&T ecosystem and develop Hong Kong into an international I&T centre."

PITAS aims to attract professional I&T enterprise service providers with proven track records in and beyond Hong Kong to set up accelerator bases in Hong Kong and, through their business networks and expertise, support the development and needs of I&T enterprises in a more comprehensive and targeted manner. Under PITAS, the Government will provide funding support on a onetotwo matching basis between the Government and the service provider to cover the necessary expenditure for establishing and operating an I&T accelerator to a ceiling subsidy of $30 million. The project duration is up to three years.

Upon its launch, PITAS received an enthusiastic response with over 50 applications. The Assessment Committee selected the above nine organisations for funding support based on a series of assessment criteria, including the experience of I&T enterprise service providers, operational models, capital and resources, quality of the management and project teams, and expected benefits to the I&T ecosystem in Hong Kong, etc.

Photo source: reference image

Details of PITAS are available on the website below (www.itf.gov.hk/en/funding-programmes/supporting-start-ups/pitas). For enquiries, please contact the Secretariat of the scheme (Tel: 3543 5904; email: pitas@itc.gov.hk).