Director of the Hong Kong Economic and Trade Office, New York Monica Chen (left) met with Raleigh, N.C., Mayor Charles Meeker on June 9 to discuss possible collaborations in research and development between companies in the two cities.

At a June 9 meeting with Raleigh Mayor Charles Meeker, Ms. Chen promoted the Hong Kong Science Park Biotech Centre, noting it represents the Hong Kong government’s commitment to support the continued growth of biotech industries in the territory and enhancing Hong Kong’s status as a hub for innovation and biotechnology.

“The Hong Kong Science Park is home to more than 200 technology companies across a wide spectrum of industries, ranging from integrated circuits and electronics to biotechnology and green technology.

“These companies comprise start-ups to small and medium enterprises (SME), to multinational corporations,” she said, adding that the pool of quality graduates and researchers in Hong Kong could contribute to successful collaboration efforts.

Another example of the government’s support is its Innovation and Technology Fund, which has backed approximately 1,400 projects with US$512 million since 1999.

Ms. Chen said scientists and researchers in Hong Kong and mainland China have enhanced R&D collaborations in recent years. For example, R&D labs in both Hong Kong and Guangdong carry out joint applied research and development through the Guangdong-Hong Kong Technology Cooperation Funding Scheme.

The governments of Hong Kong and Shenzhen also recently cooperated in launching their first major technology cooperation project, a solar energy research and industrial platform in collaboration with DuPont. The DuPont Apollo Global Thin Film Photovoltaic Business Headquarters and Research and Development Centre officially opened in the Hong Kong Science Park in March.

“Hong Kong, with its unrivaled geographical location and world-class infrastructure, is an attractive place for entrepreneurs who are looking to start their business or to form joint ventures with Hong Kong companies,” said Ms. Chen. “We also have a low and simple tax system, a free flow of capital and information, the rule of law and a strong intellectual property protection — key factors cited by many American businesses that have set up shop in Hong Kong.”

During the meeting, Ms. Chen gave an update on the latest economic situation in Hong Kong, pointing out that the city had adopted a number of measures in the current global downturn to stabilize the financial markets, support SMEs and preserve employment.

During her visit to Raleigh, Ms. Chen visited the Research Triangle Park and met with executives from the public-private Research Triangle Regional Partnership to discuss potential collaborations.

Ms. Chen visited North Carolina State University and addressed faculty members and students of the School of Public and International Affairs. There, she spoke on U.S.-Hong Kong relations in the areas of trade, education and cultural exchanges, as well as the economic strategy adopted by the Hong Kong government in the current economic environment.

She also noted that Hong Kong is leveraging its close integration with the Mainland economy, pointing to the fact that the Closer Economic Partnership Arrangement (CEPA) helps facilitate greater access to the Chinese market for firms established in Hong Kong.

Ms. Chen also spoke of Hong Kong’s development as an education hub. She noted that Hong Kong is well-positioned to provide quality higher education in the region, due to the city’s cosmopolitan outlook, strong links with mainland China, world-class universities and diversified system of education.

“Last year, we established a Research Endowment Fund to be allocated to our universities to work on researches on themes of a long-term nature and strategically beneficial to the development of Hong Kong,” said Ms. Chen. “We will be introducing a Hong Kong Ph.D. Fellowship Scheme from 2010-11 to attract the best and brightest students to Hong Kong to pursue their Ph.D. programs in our institutions.”