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Hong Kong targets 3% GDP for innovation spending by 2030

By PulseAugur Editorial · [1 sources] ·

Hong Kong has set a goal to increase its innovation spending to 3% of its gross domestic product by approximately 2030. This target, part of the city's first five-year plan, aims to nearly double the current expenditure rate. The plan, unveiled by Chief Executive John Lee, also includes measures to promote frontier technologies such as aerospace research, with an expected annual increase in innovation expenditure of around 10%. AI

IMPACT This policy shift could foster greater investment in AI and related technological advancements within Hong Kong.

RANK_REASON Government policy announcement regarding R&D spending targets. [lever_c_demoted from significant: ic=1 ai=0.4]

Read on SCMP — Tech →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Hong Kong targets 3% GDP for innovation spending by 2030

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14 / 100
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Research
Government policy announcement regarding R&D spending targets. [lever_c_demoted from significant: ic=1 ai=0.4]
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Elizabeth Cheung ·

    Hong Kong aims to raise innovation spending to 3% of GDP by about 2030

    Hong Kong will strive to raise its expenditure on innovation activities to a level equivalent to 3 per cent of gross domestic product (GDP) by around 2030, nearly double the current rate, according to the city’s first five-year plan. Chief Executive John Lee Ka-chiu unveiled the …

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