Hong Kong continued to see rapid growth in research and development expenditure as the city steps up investment in innovation and technology official data showed Saturday. According to the census and statistics department of the Hong Kong Special Administrative Region government, the gross domestic expenditure on R&D of Hong Kong in 2022 amounted to 30.14 billion Hong Kong 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, attracting and nurturing talent as well as supporting start-ups in a bid to develop itself into a global I&T center.—APP
