April 27, 2017
Hong Kong is known to be one of the top global financial centers in the world. Its markets are well-regarded for operating under mature, effective and transparent regulations that are in line with international standards. The HK government and the top research centers have put significant efforts into supporting economic growth and creating a business and innovation-friendly environment. A few recent initiatives include:
● Plans to introduce and enhance various funding schemes to encourage more private enterprises to invest in R&D and applied technology, and to translate outstanding local R&D achievement into products and services with commercial value. Other than injecting a sum of $5 billion into the Innovation and Technology Fund (ITF), the government pledged to inject $2 billion to launch a Midstream Research Program for universities to provide funding support to carry out more midstream and applied research projects in key technology areas.
● The Hong Kong Monetary Authority (HKMA) has recently linked up with the Applied Science and Technology Research Institute to launch the FinTech Career Accelerator Scheme (FCAS), backed by 11 banks and 9 universities. The new scheme will aim to provide practical internships for undergraduate ...