Hong Kong’s finance minister has vowed to accelerate the development of the innovation and technology sector and spur domestic spending after senior Beijing officials outlined priorities at the nation’s top annual political gathering.
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Financial Secretary Paul Chan Mo-po said on Sunday the city needed to make better use of its status as a global financial centre to attract technology sector investment.
“[Hong Kong] should strengthen the integration of technology and capital, inject more new momentum into Hong Kong’s technological innovation development, technological innovation enterprises and industrial clusters through efficient capital allocation in the financial market,” he wrote in his weekly blog.
He said the city could take on board suggestions from the ongoing meetings in the capital known as the “two sessions”, or lianghui.
Chan identified three focus areas: speeding up technological innovation to boost economic momentum; unleashing more domestic consumption potential by creating new experiences and innovative products; and deepening international exchanges and co-operation.
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Last week, Chinese Vice-Premier Ding Xuexiang expressed hope in a close-door meeting that Hong Kong could play a greater role in the country’s bid to become a scientific powerhouse. He was addressing the city’s delegates to the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political advisory body.