Hong Kong continued to see rapid growth in research and development (R&D) expenditure as the city steps up investment in innovation and technology (I&T), official data showed Thursday.
According to the census and statistics department of the Hong Kong Special Administrative Region (HKSAR) government, the gross domestic expenditure on R&D of Hong Kong in 2022 amounted to 30.14 billion Hong Kong dollars (about 3.86 billion U.S. dollars), a year-on-year increase of 8 percent. It accounted for 1.07 percent of the city’s gross domestic product.
In recent years, the HKSAR government has ramped up investment in developing I&T infrastructure, promoting R&D.—APP
