Hong Kong's R&D Spending Reaches $33 Billion, Up 10% in 2023

"Hong Kong Innovation Activities Statistics" shows continued increase in Hong Kong's gross expenditure on research and development in 2023

According to the report "Hong Kong Innovation Activities Statistics 2023" released today (December 23) by the Census and Statistics Department, the gross domestic expenditure on research and development (GERD) in Hong Kong has been on the rise and reached $33,006 million in 2023, representing an increase of about 10 per cent compared with the corresponding figure in 2022 ($30,138 million). The GERD as a ratio to the Gross Domestic Product (GDP) has also further increased to 1.11 per cent in 2023. In addition, the number of research and development (R&D) personnel showed a steady increase over the years and reached 43,403 in 2023 (compared with 39,710 in 2022).

A government spokesman said, "The country indicates clear support in the National 14th Five-Year Plan for Hong Kong to develop into an international innovation and technology (I&T) centre. Promoting I&T development has always been one of the key policy areas of the current-term Government. In recent years, the Government has been focusing on encouraging innovation activities, developing I&T infrastructure, strengthening basic research and promoting commercialisation of R&D outcomes, attracting and nurturing talent, supporting start-ups, etc. Moreover, since taking office, the current-term Government has been actively enhancing the local I&T ecosystem by consolidating our strengths in upstream basic research, accelerating the midstream transformation and realisation of scientific research outcomes, and supporting industry development in the downstream. Various initiatives have achieved good progress. It is encouraging to see that the GERD and the GERD as a ratio of the GDP have recorded satisfactory growth in 2023. We will continue to promote I&T development in Hong Kong at full steam following the development directions and major strategies as set out in the Hong Kong I&T Development Blueprint."

The spokesman also stated that a series of measures have been announced in the 2024 Policy Address, including promoting the development of new industrialisation, preparing for the establishment of the third InnoHK research cluster, launching the Pilot I&T Accelerator Scheme, setting up a $10 billion I&T Industry-Oriented Fund, etc., to achieve high-quality economic development through technological empowerment. In addition, the Government promulgated the Development Outline for the Hong Kong Park (the Park) of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone in November this year to foster the development of the Park.

"The Government will continue to take forward various policy measures to create favourable conditions for Hong Kong's I&T development, with a view to further promoting the development of I&T and new quality productive forces in Hong Kong, and realising the vision of developing Hong Kong into an international I&T centre," the spokesman added.

Special traffic and transport arrangements for Christmas Eve and Christmas Day

The Transport Department (TD) today (December 23) reminded the public that the following special traffic and transport arrangements will be implemented on December 24 and 25 to facilitate the celebrations on Christmas Eve and Christmas Day.

Road closures

Road closures and traffic diversions will be implemented in the vicinities of Lan Kwai Fong in Central, Tsim Sha Tsui and West Kowloon Cultural District in phases from 2pm onwards on December 24. The Tsim Sha Tsui East (Mody Road) Bus Terminus, Star Ferry Bus Terminus in Tsim Sha Tsui and China Ferry Terminal Bus Terminus will be suspended from 5.30pm, 6.30pm and 11pm respectively on that day until the re-opening of closed roads for traffic. To facilitate the road closure arrangements, the bus and green minibus (GMB) routes operating in the affected areas will be subject to diversion or suspension, and the associated bus and GMB stops located within the affected areas will be suspended or relocated accordingly.

Public transport services on December 24 will be adjusted as follows:

The service levels of MTR lines (except Airport Express and Disneyland Resort Line) will be strengthened gradually from 3pm;

MTR lines (except Airport Express, Disneyland Resort Line and East Rail Line section between Sheung Shui - Lok Ma Chau/Lo Wu)and Light Rail route nos. 505, 507, 610, 614P, 615P, 706 and 751will provide overnight services;

The operating hours of MTR bus route nos. 506, K51 and K54 will be extended;

Three special bus services (KMB route nos. N64P, N243 and N272) will be operated in the small hours on December 25. The service level and operating hours of 23 KMB routes in Kowloon and New Territories will be strengthened or extended;

The operating hours of four GMB routes in Kowloon and one GMB route in New Territories will be extended; and

Tram services will be extended to 1.30am on the following day and will also be strengthened subject to passenger demand.

Central to Mid-Levels Escalator and Walkway System Services

The operating hours of the Central to Mid-Levels Escalator and Walkway System on December 24 and 25 will be extended to 1am on the following day.

For details of the special traffic and public transport arrangements, members of the public may visit the TD's website (www.td.gov.hk) or its mobile application "HKeMobility". Passengers may also refer to the passenger notices displayed by the relevant public transport operators.

Members of the public are advised to make use of public transport services as far as possible to avoid traffic congestion and unnecessary delays. The TD and the Police will closely monitor the traffic situation and implement appropriate measures when necessary. The Police may adjust the traffic arrangements, subject to the prevailing crowd and traffic conditions in the areas. The public should pay attention to the latest traffic news through radio, television or "HKeMobility".