Hong Kong Science Park – New Territories
Hong Kong is one of the fastest-moving cities on Earth when it comes to rising standards of living and increasing economic potential. What was once a flailing economy built upon the shattered remnants of Communism is now a fully-functioning industrial and manufacturing center. While much of what drives Hong Kong is the international business savvy of the business owners who are headquartered here, a lot of it also has to do with China's push toward technology research and development. This shift in how China looks toward the future is a large part of what drives the country's continued success.
The Hong Kong Science Park is an example of that mentality in action, and it brings science to the forefront of the collective Chinese mind. Not only is the Hong Kong Science Park a place for the Chinese to show the world their devotion to science and technology, but it is also a place for top-tier research companies to conduct their work. With a 22 hectare campus that is equipped with cutting-edge technologies, the Hong Kong Science Park is much more than just a symbol. It is a working, functional testament to what Chinese research facilities can offer the world of technology.
The History of the Hong Kong Science Park
The Hong Kong Science park was conceived of in 2001 as a way for China to provide top-quality research facilities to large, medium and small enterprises from around the world. Over time, the park built up as a gargantuan campus on the waterfront of Tolo Harbour on the eastern edge of Hong Kong. It started out at a moderate size, but quickly grew to encompass 220,000 square meters of office space, 20 laboratories sporting top of the line equipment, and cutting-edge research facilities.
The Hong Kong Science Park offers a wide range of services to many research and development companies the world over, with a special focus on technology development. Companies can rent out the research facilities on a per-project basis or even on an hour to hour basis if the project requires it. This way, the Hong Kong Science Park is able to accommodate businesses of all sizes and budgets. In fact, this has always been one of the major draws of the Hong Kong Science Park. By providing top-quality services to smaller companies, there is a greater opportunity for smaller companies that can lead to greater potential for innovation.
The Economic Impacts of the Hong Kong Science Park
The Hong Kong Science Park has had a number of positive and significant impacts on the economies of Hong Kong, China and the world. With some of the largest technology research and development companies on Earth utilizing the facilities here, a lot of revenue is pumped into the local economy from the operations here. This money comes by way of taxes, higher employment, and the purchasing of local goods. Some companies may set up permanent shop in the Science Park, and they may employ hundreds or thousands of workers at a given time.
The Hong Kong Science Park has also done a lot to attract investors to the city of Hong Kong. While Hong Kong has long been recognized as the financial capital of China, this doesn't do a lot to bring technology investors to the region. It also doesn't do much for the breaking of new ground for new and expansive facilities that benefit the city. Thanks to the Hong Kong Science Park, investors have begun to take a renewed interest in Hong Kong as more than just a financial center. As more and more people move here to take advantage of the booming economy, the city looks better and better to investors and developers.
Helping Hong Kong Live the Dream
For generations, many families in China have lived at a lower standard of living than the rest of the developed world. Thanks to the power of technology and the Internet, China is once again a major force in the global marketplace. Now, the same amenities of life that were once exclusive to the west are readily available in China. This has created a higher standard of living that the Chinese now thirst for more than anything.
Thanks to magnets for enterprise and investment like the Hong Kong Science Park, the people of China are able to have the same quality of life as other nations. This is perhaps an intangible thing to refer to, but it is nonetheless a tangible asset to those who are benefiting from it. The Hong Kong Science Park has done a lot to advance research and development for the technology industry throughout Hong Kong. However, the part that this park and others like it have played in the increased quality of life now found in China is a benefit that is too large to ignore.