The Hong Kong SAR government launched a HK$10 billion "New Industry Acceleration Plan" covering strategic industries such as AI

PANews reported on September 17 that according to Xinhua News Agency, the Innovation and Technology Commission of the Hong Kong Special Administrative Region Government announced the launch of the "New Industry Acceleration Program" (hereinafter referred to as the Acceleration Program) to provide funding for enterprises engaged in strategic industries to set up new smart production facilities in Hong Kong. Eligible enterprises are welcome to submit applications. A spokesman for the Innovation and Technology Commission said that in order to promote the development of new downstream industries, the Chief Executive of the Special Administrative Region proposed in the 2023 Policy Address to allocate HK$10 billion to implement the "New Industry Acceleration Program." In the acceleration plan, the SAR government will subsidize enterprises engaged in strategic industries (i.e. life and health technology, artificial intelligence and data science, and advanced manufacturing and new energy technology) to set up new smart production facilities in Hong Kong in the form of 1 (government): 2 (enterprises). The Hong Kong Special Administrative Region Government hopes to encourage enterprises to use innovative technologies to achieve intelligent manufacturing and enhance their competitiveness.