Page 184 - 2021 White Paper
P. 184
1 White Paper on the Business Environment in China
3. The collaborative roles of Hong Ranking of cities in the Global Scientific And Tech-
Kong and Macao nological Innovation Centers Evaluation Report
As highly specialized economies with little tech-re-
lated industries, Hong Kong and Macao are not in-
cluded in the study, but the study also revealed ways
that the relative strong suits of Hong Kong’s economy
could collaborate with the tech-related industrial de-
velopment in the rest of the area, especially in terms
of its soft technology environment.
Industrial VAI accounts for only 2.2 % and 1.1% of
Hong Kong and Macao’s economies respectively
Value-added of industry (VAI)
Source: Guangdong Bureau of Statistics, Wind Source: Shanghai Information Center
According to the Global Scientific And Techno- The technology enterprise may also tap into the
logical Innovation Centers Evaluation Report by the financial market in Hong Kong to further expand its
Shanghai Information Center, Hong Kong is in the investment on R&D. Specifically, in the Opinion on
15th place compared to Shenzhen’s 27th and Guang- Financial Support for the Construction of the Guang-
zhou’s 46th in 2020 in terms of overall innovativeness. dong-Hong Kong-Macao Greater Bay Area11, which
Although Hong Kong lacks an industrial sector, its po- was released in May 2020, private equity funds in
sition comes predominantly from the city’s compar- Hong Kong and Macao are encouraged to participate
ative advantage in fundamental research, including in cross-border financing arrangements for innovative
the number of academic publication citation, the in- enterprises within the GBA, while qualified innovative
ternational ranking of its universities, the recognition enterprises are encouraged to list in Hong Kong. Insti-
of its scientific research, and the quality of its scien- tutional investors in Hong Kong and Macao are also
tific research facilities. The talent generated from the allowed to participate in private equity investment
universities in Hong Kong could feed the demand for funds and venture capital funds in the GBA through
technology talent in the GBA. Qualified Foreign Limited Partners (QFLPs).
Box 2 | Artificial intelligence in the real
estate industry
Investment on technology upgradeAnother
key aspect for innovation development is on the
technology upgrade of existing business sectors.
Rather than considering innovation and technology
as a detached concept, they can disrupt existing busi-
ness practices and generate new value through re-
vised paradigms and efficiency improvements. They
can fit right into the core of the decision-making pro-
cess in the traditional sectors.
11 www.pbc.gov.cn/goutongji-
aoliu/113456/113469/4023428/index.html
184
3. The collaborative roles of Hong Ranking of cities in the Global Scientific And Tech-
Kong and Macao nological Innovation Centers Evaluation Report
As highly specialized economies with little tech-re-
lated industries, Hong Kong and Macao are not in-
cluded in the study, but the study also revealed ways
that the relative strong suits of Hong Kong’s economy
could collaborate with the tech-related industrial de-
velopment in the rest of the area, especially in terms
of its soft technology environment.
Industrial VAI accounts for only 2.2 % and 1.1% of
Hong Kong and Macao’s economies respectively
Value-added of industry (VAI)
Source: Guangdong Bureau of Statistics, Wind Source: Shanghai Information Center
According to the Global Scientific And Techno- The technology enterprise may also tap into the
logical Innovation Centers Evaluation Report by the financial market in Hong Kong to further expand its
Shanghai Information Center, Hong Kong is in the investment on R&D. Specifically, in the Opinion on
15th place compared to Shenzhen’s 27th and Guang- Financial Support for the Construction of the Guang-
zhou’s 46th in 2020 in terms of overall innovativeness. dong-Hong Kong-Macao Greater Bay Area11, which
Although Hong Kong lacks an industrial sector, its po- was released in May 2020, private equity funds in
sition comes predominantly from the city’s compar- Hong Kong and Macao are encouraged to participate
ative advantage in fundamental research, including in cross-border financing arrangements for innovative
the number of academic publication citation, the in- enterprises within the GBA, while qualified innovative
ternational ranking of its universities, the recognition enterprises are encouraged to list in Hong Kong. Insti-
of its scientific research, and the quality of its scien- tutional investors in Hong Kong and Macao are also
tific research facilities. The talent generated from the allowed to participate in private equity investment
universities in Hong Kong could feed the demand for funds and venture capital funds in the GBA through
technology talent in the GBA. Qualified Foreign Limited Partners (QFLPs).
Box 2 | Artificial intelligence in the real
estate industry
Investment on technology upgradeAnother
key aspect for innovation development is on the
technology upgrade of existing business sectors.
Rather than considering innovation and technology
as a detached concept, they can disrupt existing busi-
ness practices and generate new value through re-
vised paradigms and efficiency improvements. They
can fit right into the core of the decision-making pro-
cess in the traditional sectors.
11 www.pbc.gov.cn/goutongji-
aoliu/113456/113469/4023428/index.html
184
