TRADE AND INDUSTRY
companies with new or improved technologies and processes which cannot operate in multi- storey factory buildings. The corporation has three industrial estates in the New Territories at Tai Po, Yuen Long and Tseung Kwan O. The industrial estates are fully serviced with roads, drains, sewers, electricity and water. Companies on the estates design and construct their own factory premises to meet their specific requirements. They are required to adopt appropriate environmental protection measures to meet current standards. Over 110 factories were operating in the Tai Po and Yuen Long estates and more were being built at the end of the year. On the Tai Po estate, which has 73 hectares of industrial land, only two vacant sites of about 4.32 hectares, reserved for a high-technology industry, remained. The Yuen Long estate has 67 hectares of land in total, of which a few hectares were still available for leasing. The land premia stood at $2,200 per square metre for the Tai Po estate and at $1,800 per square metre for Yuen Long.
Construction of the third industrial estate at Tseung Kwan O began in August 1991. The first phase, with 28 hectares of serviced sites, was available in 1994. The land premia stood at $2,100 per square metre for an ordinary site and $2,650 per square metre for a waterfront site. The second phase, covering another 42 hectares, will be ready in 1996. The new industrial estate is only three kilometres from the centre of Tseung Kwan O new town. Ocean-going ships will be able to use both the waterfront sites and berthing facilities.
The corporation's estates are held under leases from the government which extend to the year 2047. The corporation also grants sites to 2047, enabling investors to plan up to the middle of the next century with certainty.
Hong Kong Industrial Technology Centre Corporation
The Hong Kong Industrial Technology Centre Corporation (HKITCC) was established on June 1, 1993, by statute, to facilitate the promotion of technological innovation and application of new technologies in Hong Kong industry. The HKITCC is governed by a board of directors, consisting of a chairman appointed by the Governor and 15 directors appointed by the Financial Secretary.
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 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. The HKITCC is required to conduct its business according to prudent commercial principles. It is expected to gradually become financially self-sufficient, with income from rent and incubation services.
The HKITCC moved into purpose-built premises in Kowloon Tong in September 1994. Providing a floor area of 22 000 square metres, the technology centre is designed to accommodate some 80 technology-based companies of different sizes.
The HKITCC introduced a pilot incubation programme in early 1992 in leased space in the Hong Kong Productivity Council Building. At the year's end, there were eight, start-up, technology-based companies under the programme. They have been provided with a range of infrastructure and support services, including rental subsidy, assistance in business planning and development, communications, marketing and access to laboratory facilities at higher educational institutes. Other services such as conference facilities, accounting and
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