The Hong Kong Special Administrative Region (HKSAR) government on Wednesday released a development outline for the Hong Kong section of a sci-tech innovation cooperation zone jointly developed by the southern tech hub Shenzhen and the HKSAR.

The Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, located on the two sides of the Shenzhen River, was established under the vision of "one river, two banks" and "one zone, two parks." A major platform for cooperation among south China's Guangdong Province, HKSAR and Macao SAR under the country's 14th Five-Year Plan (2021-2025), the zone consists of an 87-hectare Hong Kong park and a 302-hectare Shenzhen park.

The outline released Wednesday followed a plan made public last year by the State Council on the development of the Shenzhen section of the cooperation zone.

For the Hong Kong section, the HKSAR government said that it aims to take forward its development in four directions, namely, to build a world-class industry-academia research platform, to establish an internationally competitive R&D transformation and pilot production base for industries, to foster a hub for pooling global I&T resources, and to cultivate a testing ground for institutional and policy innovation.

By 2030, Phase 1 of the Hong Kong section will be completed orderly. By 2035, a comprehensive development pattern of the Hong Kong section will emerge with the growth of an overall vibrant I&T ecosystem, according to the development outline.

HKSAR Chief Executive John Lee said that the HKSAR government would capitalize on the strengths of "one country, two systems" and the geographic advantages of "one river, two banks," to promote the development of the Hong Kong section at full steam, and join hands with Shenzhen to develop the zone into a world-class key innovation and technology platform and an important engine for the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area.

With the completion of the first batch of buildings in Phase 1 of the Hong Kong section starting from the end of this year, the Hong Kong park will officially enter into its operational phase next year. The next stage will focus on attracting enterprises and investment, as well as appealing to leading companies and talent on the mainland and abroad to set foot in the park, the HKSAR government said.