Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc
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Question : There is a public concern on how the Government promotes the development of new industries. Will the Administration redeploy resources and manpower to review and enhance the existing policies on new industries? If yes, what are the details? If no, what are the reasons? Asked by : Hon. WONG Ting-kwong Reply : The Government is committed to providing an environment conducive to conducting businesses and rendering suitable assistance for the commercial and industrial sectors. From the macro point of view, Hong Kong’s simple tax regime, low tax rate and excellent infrastructure, etc facilitate the development of the commercial and industrial sectors and maintain our competitiveness in the world. Hong Kong’s industries have transformed from low-cost and labour-intensive production into knowledge-based and high valued-added production activities. In keeping with this trend, innovation and technology would become the main driving force for the sustainable development of our economy, as well as the critical element in promoting upgrading and restructuring, and enhancing competitiveness of our industrial sector. The Government has adopted multi-pronged measures, including implementing various funding schemes such as the CreateSmart Initiative, Design-Business Collaboration Scheme, Innovation and Technology Fund and Research and Development Cash Rebate Scheme, etc, to provide technical and funding support for the industry, so as to assist them to enhance their technology level and to meet with challenges in the highly competitive business environment. We also assist the industry in obtaining credit facilities through the Trade and Industry Department’s SME Loan Guarantee Scheme. Apart from the responsible Government departments, many relevant organisations, such as the Hong Kong Science and Technology Parks Corporation, Hong Kong Productivity Council as well as the five R&D Centres established by the Government, have various measures in place to support the sustainable development of the industrial sector through the provision of quality infrastructure and technical support . We have maintained close liaison with the industry and would continue to review and refine our policies and support measures having regard to the demands of the industry, so as to better meet their needs and support the long-term development of the industrial sector. The expenditure and manpower of the work involved have been subsumed under the provisions and establishment of our bureau and relevant departments and organisations. It would be difficult to account for separately.
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