Innovation and Technology Bureau: Starting from the second quarter, the remaining land parcels of the first phase of the Hong Kong-Shenzhen Innovation and Technology Park will be promoted, with preliminary consideration for a two-envelope tendering process

The Permanent Secretary for Innovation and Technology of the Innovation and Technology Bureau, Tsai Chih-Ming, met with the media after attending the launch ceremony of the Hong Kong-Shenzhen Innovation and Technology Park incubation program. He stated that the park has officially opened for only three months and has successfully attracted a large number of potential and high-quality technology enterprises to settle in. The rental rate of the two wet laboratory buildings in the Hong Kong Science Park has exceeded 80%, and the first batch of the remaining five buildings is expected to be completed ahead of schedule within this year, which will further accelerate the pace of enterprise entry.

Tsai Chih-Ming indicated that the park company will gradually launch the first phase of development for the remaining 22 plots starting from the second quarter of this year. The authorities hope to introduce this through a public-private partnership model, initially considering the use of a "dual-envelope" bidding system. However, considering the market appetite, the park company will gradually release land and will not push too much or too little.

Regarding the government's proposal to inject HKD 10 billion into the park company in this year's Budget, Tsai Chih-Ming pointed out that there are different components involved, with the main part being used to support public-private partnerships. Although under the "dual-envelope" bidding model, most investments are handled by private enterprises, the park company does not rule out the possibility of government investment when necessary. At the same time, the government will also directly invest in some public facilities