Core Viewpoint - The Hong Kong Innovation and Technology Bureau aims to increase the number of smart production lines supported under the "New Industrialization Subsidy Scheme" to at least 130 by 2027, with current progress aligning with expectations [1][2] Group 1: Subsidy Program Details - Since the launch of the "Subsidy Scheme," the New Industrial Review Committee has supported 66 applications, involving over 100 production lines across various industries including food manufacturing, textiles, construction materials, medical devices, biotechnology, and renewable energy [1] - Approximately 40% of the projects under the "Subsidy Scheme" have requested funding amounts below HKD 2.8 million, indicating a significant number of applicants may benefit from the new optimization measures aimed at expediting the approval process [2] Group 2: Optimization Measures - The latest optimization measures intend to accelerate the approval process for projects with funding requests below HKD 2.8 million, simplifying documentation requirements and review procedures [1][2] - The average notification time for applicants regarding approval results is currently 35 working days, with expectations for further reductions following the implementation of the new measures [2] Group 3: Future Initiatives - The Hong Kong Innovation and Technology Bureau plans to launch a two-year "Manufacturing and Production Line Upgrade Support Pilot Scheme" within the year to provide matching grants for local manufacturers to adopt smart production technologies [2] - A consultancy study will be initiated to explore the long-term development of new industries in Hong Kong, focusing on leveraging innovative technologies to assist traditional manufacturing in upgrading and transforming [2]