Hong Kong targets 3% of GDP on innovation by 2030, nearly doubling current spend

Hong Kong's first five-year innovation plan sets a goal to raise innovation spending to 3% of GDP by around 2030, nearly double the current level. The plan includes 22 indicators and measures to boost frontier technologies like aerospace research. This signals a strategic push to diversify the economy and enhance technological competitiveness, though implementation and funding details remain to be seen.