Bulletin No. 1, 2023

Innovating for Impact One-plus Scheme (RAISe+ Scheme) for promoting commercialisation of universities' outstanding research and development outcomes for pushing ahead the "from 1 to N" transformation, as well as pressing ahead with construction of the Hong Kong- Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop. 3 The city’s universities have been major beneficiaries of the government’s I&T agenda, and the higher education sector is co-developing a range of world-class facilities including national-level laboratories and research centres supported under the InnoHK umbrella. Talent pooling for a science-based future In the Times Higher Education World University Rankings 2023, CUHK is among the five local tertiary institutes listed in the world’s top 100. With its unique mission to bring together China and the West, CUHK is one of the most international and inclusive universities to attract talent from around the world to develop the city’s innovative capacity. The National 14 th Five-Year Plan highlights an important aspiration for Hong Kong to be positioned as an international I&T hub connecting the world with the rapidly emerging research and innovation ecosystem of the GBA. Hong Kong’s higher education system, with its concentration of highly-ranked, world class universities is set to play a major role in this ecosystem. Over the past five years, the Hong Kong government has invested over HK$150 billion in I&T development, with approximately one-third dedicated to R&D, with new initiatives spanning areas such as capital, talent and infrastructure. 1 The gross domestic expenditure on R&D (GERD) in Hong Kong in 2021, representing 0.97% as a ratio to the GDP, amounts to HK$27.8 billion, and higher education sector accounts for HK$14.7 billion out of it. The GERD indicates an increase of 5% compared with the corresponding figure in 2020. 2 In the 2022 Policy Address, a series of I&T initiatives were announced like earmarking HK$10 billion to launch the Research, Academic and Industry Sectors 28 Chinese University Bulletin No. 1, 2023