Novel designs: Financial Secretary John Tsang admires students' projects at the InnoCarnival 08 opening.

Joint efforts by the Government, enterprises and academia have enabled Hong Kong to consolidate the foundations of its research and development, Financial Secretary John Tsang says, noting that industry also attaches greater importance to developing new technology and design.

Speaking at the opening ceremony of the InnoCarnival 08, Mr Tsang said Hong Kong had enhanced collaboration with the Mainland in recent years, and its R&D achievements had been repeatedly recognised at the national level. So far, Hong Kong universities have established five state key laboratories with the Ministry of Science & Technology's approval.

The Hong Kong and Guangdong governments worked together to carry out applied R&D through the Guangdong-Hong Kong Technology Co-operation Funding Scheme. From 2004 to 2007, the two sides have supported about 670 projects in different technology fields with total funding of more than $1.6 billion.

According to the 2006 data from the Census & Statistics Department, yearly R&D spending in Hong Kong amounts to about $12 billion, representing an increase of 70% over 2001.

Industry's R&D spending, as compared to total R&D spending, had increased from 29% in 2001 to 53% in 2006, and full-time R&D staff had also increased from 11,000 in 2001 to 23,000 in 2006.

Festival fosters innovative spirit

Mr Tsang said the Government would continue to support innovation and technology development, foster innovation technology culture, and encourage the community, especially the younger generation, to develop their creativity as well as interest and potential in technology.

More than 40 programme partners participated in Innovation Festival 08, including universities, the Education Bureau, professional organisations, technology enterprises, and many youth educational bodies engaged in creative and robotic activities.