The Hong Kong Special Administrative Region government Wednesday announced the establishment of a new Steering Committee on Innovation and Technology to further promote the development of innovation and technology in Hong Kong.

Secretary for Commerce, Industry and Technology (SCIT), John Tsang said that following the signing of Chinese Mainland -- Hong Kong Closer Economic Partnership Arrangement (CEPA), "the application of zero tariffs on goods and liberalization of the service sectors have created favorable conditions for the development of high-value and high-tech activities in Hong Kong."

"The committee will coordinate the formulation and implementation of innovation and technology policies, and ensure greater synergy among different programs in promoting priority technology areas where Hong Kong has strength," Tsang said.

The steering committee will be chaired by the SCIT with members from relevant government bureaus, academia, industry, and innovation and technology organizations.

Members of the steering committee have been appointed for a period of two years with effect from Monday (January 12). The first meeting of the committee will be held next month.

To optimize the impact of the government's innovation and technology programs and make contribution to Hong Kong's economic development, the steering committee will advise on the formulation of pertinent policies, determine focuses and priorities and ensure effective alignment, coordination and synergy among the stakeholders.

(Xinhua News Agency January 14, 2004)