The Hong Kong reindustrialization strategy, announced in 2016, compromises more than $ 12.9 billion to a data center, an advanced manufacturing center, applied research, platforms for medical technology and other ambitious projects. However, there are still the policies gaps, informs Oswald Chan of the financial services of Hong Kong.Hong Kong and the property growth model and property extends the disparities of income and wealth. That is socially divisive, and unsustainable. Pandemic stops have drowned by retailers, small and medium-sized companies and employment. Can Hong Kong recover the impulse through the third transformation, from services to industry 4.0? The first transformation of the city (from primary trade to manufacturing), in the 1960s, and the second transformation (from manufacturing to services), in the 1990s, were led by entrepreneurs and the global financial community. The industrial base of Hong Kong migrated the Chinese continent for cheap land and work. Financial services for the Export Trade and Investment Market Anchored in Hong Kong due to the commercial efficiency of the city and the legal framework of trust. This change of paradigm to industry 4.0 should not miss the urgent overall approach in the fourth wave of environmental sustainability. The Special Administrative Region needs a general strategy that boosts both. The "externalities" of economic activity can be rectified using the same intelligent technologies. Good governance includes responsibility for greenhouse gases, air pollution and water, waste management and the protection of forests and wildlife. The industry 4.0rondustrialization aims to integrate smart production with digital communications technology for productivity, innovation and new business models in real time. . Break the dependence on cheap labor. The connection gaps in the Government patchwork reindustrialization strategy require a critical review and coordination of HIDS. Sar growth pillars must diversify beyond financial services and real estate. You can trigger a Multiplier effect on jobs with ascending mobility for young people. Hong Kong should catch up with other advanced economies through digitization, Internet of things and new business models. The program is directed to the sectors of pharmaceutical machinery, medical care, biomedical and advanced. The power of the world's precision engineering, was a pioneer in the transformation of industry 4.0 in 2011. This quantum production manufacture integrates AI, large data analysis, robotic, block block technology, industrial IOT, and rapid prototypes. China, Italy, Japan, Singapore, South Korea, the United Kingdom and the United States followed with similar initiatives. P>
Minimum Impact? Despite encompassing the concept of reindustrialization since 2016, economic payments are not yet visible. The contribution of the innovation and technology industry grew from the static rate of 0.7 percent in the previous nine years and 0.8 percent of GDP in 2018. The Investigation and Development Index increased slightly, until the 0.86 percent of GDP in 2018, from 0.72 percent in 2008, according to the report of the Research Office of the Secretariat of the Legislative Council of July 2020. P>
I expenses + D to the GDP ratio increased to 0.92 percent in 2019, by census and data from the Statistics Department. In the 2017 policy direction, the Government of Hong Kong undertook to increase total R & D expenses by the local public and private sectors at approximately HK $ 45 billion ($ 5.8 billion) per year, What represents 1.5 percent of GDP in 2022. The Federation of Industries of Hong Kong argued that the real economic contribution of the manufacturing sector in Hong Kong is underestimated. Its provisional research report published in January projects production contributed by Hong Kong manufacturers on the continent, as approximately HK $ 500 billion in 2018, equivalent to approximately 17.6 percent of Hong Kong's GDP of that year. Richard Wong Yue-Chim, a professor of economics at the HKU business school, and the Vice-Rector of Provost and deputy from the University of Hong Kong, said producing services.
The deep ties of Hong Kong with the Chinese continent, a friendly business environment and an efficient system of government will revitalize the loca
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