“We will inject $10 billion into the Innovation and Technology Fund (ITF).” Paul Chan, Financial Secretary HKSAR

“The ITF’s financial support for I&T development in Hong Kong has increased from about $700 million in 2013-14 to $1.5 billion in 2017-18.  It is anticipated that the demand for funds will continue to increase.  As our fiscal position is strong this year, I believe that a funding injection is opportune.  The ITF will continue to support applied R&D work in Hong Kong with the additional resources.”

Source: Paul Chan FS Budget Speech 2018