Response to media enquiries on progress of HK/Shenzhen Innovation and Technology Park in Lok Ma Chau Loop
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In accordance with the "Memorandum of Understanding on Jointly Developing the Lok Ma Chau Loop by Hong Kong and Shenzhen" (MoU), a Joint Task Force on the Development of the Hong Kong/Shenzhen Innovation and Technology Park in the Loop (Joint Task Force) will be set up to discuss and negotiate on major issues arising from the development of the Park in the Loop. It was our plan to convene the first meeting of the Joint Task Force in January. However, as a date convenient to both sides could not be identified in January, after discussion, the first meeting is now tentatively scheduled for February in Shenzhen. The Hong Kong side will be led by the Secretary for Innovation and Technology, with representatives of the Development Bureau, the Constitutional and Mainland Affairs Bureau, the Education Bureau, the Commerce and Economic Development Bureau, the Innovation and Technology Commission and the Civil Engineering and Development Department as standing members.
A subsidiary company wholly-owned by the Hong Kong Science and Technology Parks Corporation (HKSTPC) will be responsible for the development of the Park. Having regard to the consensus reached by Hong Kong and Shenzhen, assuming there are ten Directors on the Board, four (including the Chairman) will be nominated by the Hong Kong side, three by the Shenzhen side, and the remaining three will be jointly nominated by both sides, mainly comprising personnel from top-notch research institutions, enterprises and universities in the Mainland and overseas. The above ratio should apply as the basis of nomination if the number of Directors is not ten. All members of the Board of Directors of the aforementioned subsidiary company will be appointed by the HKSTPC in accordance with the relevant legislation of the Hong Kong Special Administrative Region (HKSAR). According to the Hong Kong Science and Technology Parks Corporation Ordinance (Chapter 565, Laws of Hong Kong), all questions for determination shall be decided by a majority of votes of the members present and in the event of an equality of votes, the Chairman shall have a casting vote in addition to his original vote. As a subsidiary company, it shall report to the Board of Directors of the parent company (i.e. the HKSTPC) on the development of the project, while members of the Board of Directors of the HKSTPC will continue to be appointed by the HKSAR Government in accordance with the relevant legislation. The above subsidiary company shall also report to the Joint Task Force on the development of the Park as stipulated in the MoU.
Officials of the HKSAR Government will attend a joint panel meeting of the Legislative Council (i.e. Panel on Commerce and Industry, Panel on Information Technology and Broadcasting and Panel on Development) on March 6 to give an update of the project and explore ways to commence related works soonest possible.
Ends/Monday, January 23, 2017
Issued at HKT 19:42
Issued at HKT 19:42
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