LCQ10: Promotion of new industrialisation development in Hong Kong

Following is a question by Professor the Hon Sunny Tan and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (October 28): Question: The Administration launched the "New Industrialisation Funding Scheme" (NIFS) (renamed from Re-industrialisation Funding Scheme effective from October 2023) and the "New Industrialisation Acceleration Scheme" in July 2020 and September 2024 respectively, with a view to advancing new industrialisation in Hong Kong and accelerating the development of the innovation and technology industry. In this connection, will the Government inform this Council: (1) of the numbers of applications received and approved cases, the total amount of matching grant approved, as well as the number of new smart production lines or facilities established in Hong Kong since the launch of the two schemes (with the above data provided in tabular form); (2) given that the Innovation and Technology Commission streamlined the vetting and assessment procedures of the NIFS in June last year to shorten the time taken for vetting and approval of applications seeking funding support of no more than $2.8 millio

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