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THE ECONOMY
companies incorporated in Hong Kong, overseas companies with a place of business in Hong Kong, and businesses operating in Hong Kong, except those run by charitable institutions and licensed hawkers. The annual registration fee is $630. Exemption from payment is granted where the business is small. Every branch of a business is required to obtain a branch registration certificate and pay an annual registration fee of $15. In addition, a levy of $100, payable to the Protection of Wages on Insolvency Fund, is imposed on each business registration certificate issued to a business or its branch.
Science and Technology
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As Hong Kong's industry, economy and society become more complex and sophisticated, there is a need to pay greater attention to the part that modern science and technology can play in furthering development. The government believes that the ability to adopt technological advances and new applications is critical to the prosperity of an international trading city such as Hong Kong.
To ensure that Hong Kong keeps up to date with rapid technological changes and that the best advice is obtained in this area, a Committee on Science and Technology has been appointed by the Governor. Its purpose is to seek out and develop new scientific and technological ideas which are of direct relevance or potential long-term benefit to Hong Kong. The committee's members are from the academic and business sectors as well as from government departments whose work involves a significant scientific and techno- _logical content. Sub-committees and working groups enable it to draw from a wide range - of expertise in science and technology.
The main emphasis of the committee's work has been on information technology and biotechnology. It has advised the government on the adoption of electronic data interchange (EDI) for trading purposes. It is commissioning consultancy studies on Hong Kong's need for supercomputing facilities and on the potential for a biotechnology industry in the territory. The committee plans to stage an International Technology Exchange Fair to strengthen Hong Kong's image in science and technology. The commit- tee is also concerned with the safe use of technology and is working towards instituting a voluntary code of practice for the manufacture and safe use of lasers in Hong Kong.