HONG KONG - Hong Kong still has robust strengths in research despite facing challenges and barriers when transforming its technology research result into products within other cities in the Pearl River Delta area, according to a research group of the University of Hong Kong on Thursday. The city should utilize its advantage in high-tech research to cooperate with other cities in the Guangdong- Hong Kong- Macao Greater Bay Area in a better way, the group said.
The research showed that over 90 percent of domestic- or overseas-funded firms in the region never or rarely use Hong Kong’s high-tech innovation, manpower, and producer services.
Hong Kong needs to let high-tech firms in the Greater Bay Area know about its high-tech innovation results.
Anthony Yeh, chair professor of the Centre of Urban Studies and Urban Planning and Department of Urban Planning and Design at HKU
It also indicated that the main reason domestic-funded companies rarely use Hong Kong’s services and technology is the unawareness of Hong Kong’s producer services and technology achievements, as well as the higher cost of producer services it provides compared with the Chinese mainland.
The research was conducted by interviewing 363 domestic-, Hong Kong-, and overseas-funded high-tech firms in the Pearl River Delta cities from December 2020 to May 2021. The respondents mainly cover biomedical products and intelligent manufacturing equipment-related companies in Shenzhen and Dongguan.
Anthony Yeh, chair professor of the Centre of Urban Studies and Urban Planning and Department of Urban Planning and Design at HKU, noted that Hong Kong only has advantages in its financial services and professional services among its four key traditional industries which includes tourism, trading and logistics.
However, he added that Hong Kong leads the Bay Area in innovation research, with four universities ranked among the world’s top 100 universities as well as 16 State Key Laboratories.
“Hong Kong needs to let high-tech firms in the Greater Bay Area know about its high-tech innovation results,” Yeh said, adding that the measures could include promoting Hong Kong firms setting branches or factories in the mainland Bay Area cities.
Also, the research group suggested Hong Kong develop its innovation and local high-tech industries to prevent the hollowing out of local industries while making good use of its innovative high-tech research to develop local start-up industries to avoid relying solely on the Pearl River Delta industries.
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