Conveniently located in the heart of Asia, Hong Kong is renowned as an international financial and trading centre with a well-integrated network of financial institutions and markets. Widely regarded as the world's freest economy, Hong Kong is also identified as one of the world's most competitive business environments and the best-performing host economy for foreign direct investment in Asia. To sustain the competitiveness of its economy, the Hong Kong Special Administrative Region (SAR) Government is fully aware of the importance of creating an environment which fosters innovation and technology development. Innovation and technology are essential elements for enhancing creativity and productivity. They help add value to commerce and industry by introducing new products and services and exploring new business opportunities. They are also important for building up human capital to meet the needs of a fast-changing, knowledge-based economy. To this end, the Hong Kong SAR Government has been actively pursuing a vigorous programme in recent years to promote innovation and technology development in the city.
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