INDUSTRY AND TRADE
out in Hong Kong by the HKQAA. Similarly, the arrangement applies to British companies in the United Kingdom audited by the British institution.
The Governor's Award for Industry, established in 1989, recognises and encourages excellence in different aspects of industrial performance. The annual award scheme was broadened in scope from two award categories to six award categories in 1992. Different organisations are responsible for arranging annual competitions in each of these categories. The Federation of Hong Kong Industries is responsible for the consumer product design category; the Chinese Manufacturers' Association of Hong Kong for the machinery and equipment design category; the Hong Kong Productivity Council for the productivity category; the Industry Department for the quality category; the Private Sector Committee on the Environment for the environmental performance category; and the Hong Kong Trade Development Council for the export marketing category. Award presentations are made personally by the Governor.
Hong Kong Industrial Technology Centre Corporation
The Hong Kong Industrial Technology Centre Corporation (HKITCC) was established on June 1 by statute, to facilitate the promotion of technological innovation and application of new technologies in Hong Kong industry. It replaced the Provisional Hong Kong Industrial Technology Centre Company Limited, which was formed in May 1990 to undertake groundwork for the statutory corporation. The HKITCC aims to fulfil its mission through three primary functions: the incubation and accommodation of technology-based businesses; the provision of technology transfer services; and the provision of product design and development, and support services.
The HKITCC is governed by a board of directors, consisting of a chairman appointed by the Governor and 11 directors appointed by the Financial Secretary. It is committed to creating innovative synergy within its technology centre. It will do this by identifying and championing the creation of new businesses, tracking technology trends and business opportunities, assisting partnership formations, and encouraging investment in technology enterprises. The HKITCC is required to conduct its business according to prudent com- mercial principles.
The government has provided a grant of $250 million and committed another $188 million as an interest-bearing loan to meet the initial expenses of setting up the technology centre. A site of about 5 600 square metres at the junction of Tat Chee Avenue and Fa Po Street in Kowloon Tong was granted for the construction of the centre.
Construction of the building to house the technology centre commenced in August 1992, and should be completed by mid-1994. The building will have a total area of 22 000 square metres. Upon its completion, the HKITCC is expected to gradually become financially self-sufficient, with income from rent. Pending its completion, the HKITCC leased space in the Hong Kong Productivity Council Building in October 1991, and has already started providing some services.
The HKITCC introduced a pilot 'incubation programme' in early 1992. Six technology- based companies have been recruited under the programme. They have been provided with a range of infrastructure and support services, including help with business planning and development, communications, marketing and access to laboratory facilities at higher educational institutes. Other business centre services such as conference facilities, accounting and secretariat services are also available on site.
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