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The Chief Executive, Mr C Y Leung, today (November 6) welcomed the approval of funding applications for the establishment of the Innovation and Technology Bureau (ITB) by the Finance Committee of the Legislative Council (LegCo).
"The current-term Government is committed to promoting diversification of the economy. Innovation and technology are crucial to the enhancement of Hong Kong's competitiveness and the improvement of people's quality of living. Innovation and technology are making huge strides every day and Hong Kong should not continue to lag behind our competitors. There is a pressing need to set up the ITB to provide focused high-level leadership and stronger policy co-ordination among stakeholders.
"After three years of deliberations at the LegCo due to filibustering by some LegCo members, the funding applications for the establishment of the ITB are finally approved today. The ITB will be responsible for formulating holistic policies to support the development of technology infrastructure and manpower; strengthening co-ordination between the Government, industry, academia and research sectors; and expediting the development of innovation, technology and related industries in Hong Kong," Mr Leung said.
According to the resolution passed by the LegCo in June this year, the ITB should be established on the 14th day after the day on which the Finance Committee approves the relevant funding applications.
Ends/Friday, November 6, 2015
Issued at HKT 20:39
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