HONG KONG – The gross domestic expenditure on research and development (GERD) of Hong Kong in 2021 amounted to HK$27,827 million, marking a 5-percent increase over the expenditure in the previous year, according to the city’s statistics authorities.

The gross domestic product (GDP) at current market prices increased by 7 percent during the same period, the Census and Statistics Department said, adding that the GERD as a ratio to the GDP was 0.97 percent in 2021.

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Innovation and technology (I&T) has always been the top priority of the government, a government spokesman said following the release of the Census and Statistics Department report titled "Hong Kong Innovation Activities Statistics 2021" on Thursday.

The government strives to enhance the I&T ecosystem and regularly monitors its progress including the implementation of the relevant measures to develop I&T.

Spokesman, HKSAR Govt

“Over the years, the government has invested an unprecedented amount of resources in developing infrastructure, promoting research and development, nurturing talent, and supporting the industry, etc, thereby striving to enhance the I&T ecosystem in Hong Kong.” 

In order to map out Hong Kong as it moves full steam towards this vision, the government promulgated the Hong Kong I&T Development Blueprint last week to set out major strategies and recommendations under four broad development directions, the spokesman said in a statement.

In the chief executive’s 2022 Policy Address, a series of initiatives were also announced, including earmarking HK$10 billion to launch the Research, Academic and Industry Sectors One-plus Scheme for promoting commercialization of universities' outstanding research and development outcomes for pushing ahead the "from 1 to N" transformation, and pressing ahead with construction of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop and development of the San Tin Technopole, etc, added the spokesman.

As set out in the National 14th Five-Year Plan, the country has demonstrated strong support to Hong Kong for its development as an international I&T hub, it pointed out.

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It is encouraging to see that the GERD has recorded a 5-percent increase despite the challenges presented in 2021, the spokesman said.

"The government strives to enhance the I&T ecosystem and regularly monitors its progress including the implementation of the relevant measures to develop I&T. These measures are expected to continue to bear fruits gradually,” the statement reads.