Core Viewpoint - The Hong Kong government is committed to advancing new industrialization by establishing a HKD 10 billion "Innovation and Technology Industry Guidance Fund" to enhance market investment in strategic emerging industries and build a competitive innovation and technology industry chain in Hong Kong [1] Group 1: Government Initiatives - The Hong Kong government has implemented a series of policies over the past three years to improve the innovation and technology ecosystem, supporting traditional manufacturing to upgrade and transform [1] - The value added by Hong Kong's "manufacturing and new industrial sectors" is projected to be HKD 82.2 billion in 2024, reflecting a 7% increase from the previous year, accounting for 2.64% of Hong Kong's GDP [1] - The government has lowered the minimum project cost requirement for the HKD 10 billion "New Industrial Acceleration Program" from HKD 300 million to HKD 150 million to support more smart production facilities [2] Group 2: Strategic Collaborations - Hong Kong encourages collaboration between innovative enterprises and local businesses, leveraging various government support programs to establish R&D, pilot testing, and production bases [2] - The establishment of the Hong Kong New Industrial Development Alliance aims to create a collaborative platform integrating government, industry, academia, research, and investment resources [2] - The "Shenzhen-Hong Kong-Guangzhou" area was recognized as the top global innovation cluster last year, highlighting the immense potential and prospects of the Greater Bay Area [2]

Group 1 - The Hong Kong Innovation and Technology Commission announced support for Jereh Semiconductor (Hong Kong) Limited's application under the "New Industrial Acceleration Program" to build a third-generation silicon carbide wafer production facility [1] - The total budget for the project exceeds 700 million HKD (approximately 639 million RMB), with an expected approval of around 200 million HKD (approximately 183 million RMB) in funding [1] - Jereh Semiconductor was registered in Hong Kong in October 2023 and plans to officially commence operations in June 2024, with a global R&D center also set to open [1] Group 2 - The "New Industrial Acceleration Program" launched by the Hong Kong government in September 2024 aims to support strategic enterprises in life and health technology, artificial intelligence and data science, advanced manufacturing, and new energy technology [2] - Eligible enterprises must invest at least 200 million HKD (approximately 183 million RMB) in new smart manufacturing facilities, with each project having a total cost of at least 300 million HKD (approximately 274 million RMB) [2] - Each enterprise can receive a maximum of 200 million HKD in funding under the program, along with additional support for hiring R&D personnel and encouraging local R&D expansion [2]