DSF’s Welcome Remarks at Hong Kong Innovation and Technology Summit
(June 4, 2009 – Double Tree Hotel San Jose)

Secretary Lau, ladies and gentlemen,

Good morning. It gives me great pleasure to welcome Secretary Lau and her delegation of senior Hong Kong officials, our distinguished panel speakers and all of you to the “Hong Kong Innovation and Technology Summit”.

Innovation and technology have changed the world for the better and there is a close link between technological progress and economic growth. The Hong Kong Government is committed to developing Hong Kong into a regional innovation and technology service hub, providing a platform for technology development, transfer and commercialization. Hong Kong possesses many favorable conditions that are conducive to the development of innovation and technology - we have robust IP rights protection, a sound legal framework, versatile commercial service, strong research capability, free flow of ideas and talents, as well as state-of-the-art technological infrastructure like the Hong Kong Science Park and Cyberport. We are well placed to provide services in R&D, technology transfer as well as technological information and IP exchange. Hong Kong is indeed an ideal place for technology companies and R&D enterprises to flourish.

Before turning to our speakers, I would like to share with you a few Hong Kong success stories on the innovation and technology front. After six years of hard work and dedication, a Hong Kong company called EuAuto has produced a new model of electric car and sold its first electric vehicle called “MyCar” in Britain in March this year. The EuAuto project began with initial funding from the Government and R&D support from the Polytechnic University. It is a good illustration of the benefits of concerted efforts of the Government, industry, universities and research institutes.

Another success story is the use of “smartcard” technology to improve urban living. Almost all Hong Kongers will not leave home without a smart card. Smart ID cards and Octopus cards are essentials in the everyday life of Hong Kong people and bring with them much convenience. With the Smart ID card, we can go through Immigration clearance ourselves within seconds at the airport and border control points. The Smart ID card can also be used as a library card. Today, some 18 million Octopus cards are used in restaurants, shops, car parks and even vending machines in addition to various public transport modes as e-money. This smartcard technology will be showcased in the World Expo in Shanghai next year. At our reception tomorrow at the Palace Hotel in San Francisco, we will give a preview of what one will see at the Hong Kong Pavilions at the World Expo. And you are most welcome to join us again.

Last but not the least, I would like to share with you how Hong Kong has certainly strengthened technological co-operation with the Mainland of China. Under the “Shenzhen/Hong Kong Innovation Circle”, the Governments of Hong Kong and Shenzhen are actively promoting large-scale technology collaborative projects. The first such major project was done in collaboration with Dupont, and you will hear more about it from Steven and other speakers in a moment. More projects are planned under this framework in the categories of Innovation Foundation (provision of laboratories or facilities); Service Platform (sharing of technological resources and provision of technological services platform) and Major R&D.

Ladies and Gentlemen, this Summit has brought together technology experts, innovators, policy makers and industry leaders from the United States and Hong Kong. I’m sure we will benefit from the insights and experiences of our speakers and have a fruitful exchange with the participants. And please do not hesitate to use the Hong Kong Economic and Trade Office and our Investment Promotion team as a resource when taking your business across the Pacific.

Thank you!