Fruitful discussion: The Steering Committee on Innovation & Technology holds its first meeting.

The newly established Steering Committee on Innovation & Technology has endorsed a new strategy to further promote the sector's development.

The new strategy will emphasise the following five areas:

* focus;

* market relevance;

* industry participation;

* leverage on the Mainland; and,

* better co-ordination.

Under the new strategy, key technology focus areas where we have competitive advantages will be identified for optimal use of resources to create greater impact.

A demand-led, market-driven approach will be adopted in driving the innovation and technology programme to ensure our investments are relevant to industry and market needs.

The industry will be involved in defining the key focus areas and other stages of innovation and technology development.

The new strategy will capitalise on the opportunities presented by CEPA. It will also utilise the production base in the Greater Pearl River Delta as the platform for developing our applied research and development and commercialisation of applied research and development deliverables.

Co-ordination among various technology-related institutions and the industry will be strengthened for enhanced synergy and impact.

Fruitful discussions

Speaking after chairing the first meeting today, Secretary for Commerce, Industry & Technology John Tsang said members had fruitful discussions on ensuring greater synergy among different elements of the innovation and technology programme in implementing the new strategy.

They agreed to establish research and development centres responsible for developing core competencies in applied research and development in selected focus areas and facilitating technology transfer to relevant industries.

Under the new strategy, the industry will be closely involved in identifying the key focus areas and other stages of innovation and technology development.

Over the past two months, various industrial organisations have been consulted and they have provided valuable input on possible focus areas.

The Government will carefully consider the proposals and consult the committee before coming to a decision.