Innovation and technology is a new engine to power the sustainable and diversified economic development of Hong Kong. In the 2017-18 Budget, Mr. Paul Chan, the Financial Secretary, announced a reservation of $10 billion, along with a series of measures, to support and promote the development of innovation and technology in Hong Kong.
The key measures include setting up a $2 billion Innovation and Technology Venture Fund (ITVF) to encourage private investment in local I&T start-ups.
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