The Future of Hong Kong

　　At the start of the 21st century, the Hong Kong Special Autonomous Region Government has undertaken a review of Hong Kong's long-term development strategies, partly to cope with the changes and capitalize on the opportunities arising from the reunification with the Mainland, and partly in response to the many challenges in the face of globalization and the emergence of a knowledge-based economy. The review follows a two-year study by the Commission on Strategic Development which encompasses a vision and a strategic framework for Hong Kong to become not only a major city in China, but also Asia's world city.

　　Asia's Cyber City for the Cyber Century

　　Hong Kong has set itself on course to become the center for innovation and technology in east Asia-a cyber city in the cyber century. Much is being done to realize this goal and to capitalize on the enormous opportunities presented by the information revolution.

　　Cyberport

　　Cyberport - Hong Kong's IT flagship - is a HK$15.8 billion (US$2 billion) landmark project managed by Hong Kong Cyberport Management Company Limited and owned by the HKSAR Government. It is creating an interactive environment that will be home to a strategic cluster of more than 100 information technology (IT) companies and more than 10,000 IT professionals. This clustering of local and overseas companies and professional talent is envisioned as a catalyst and hub for the growth of local and regional IT industries, with particular emphasis on IT applications, information services and multimedia content creation. Cyberport will also provide IT education for the broader community.

　　Cyberport represents a commitment on the part of the government of the HKSAR to facilitate Hong Kong's development as a leading digital city in the region. The project is being developed on a 24-hectare site at Telegraph Bay in the southern district of Hong Kong Island. Cyberport is being completed in phases extending through 2004, and when complete will feature 100,000 square meters of "intelligent" office space.

　　Science Park

　　The Science Park aims to establish and nurture a world-class technology community dedicated to applied research and development. It is being developed along a clustering concept, with four clusters of electronics, IT and telecommunications, biotechnology and precision engineering. The first phase of the Science Park opened in June 2002. Phase II of the Science Park is to be completed by the end of 2007.