In her policy address today, Lam said the SAR will be developed into an international innovation and technology hub.

Along with the to-be-expanded Science Park, the Hong Kong-Shenzhen Innovation and Technology Park and the areas around Lok Ma Chau/San Tin will be consolidated to form the San Tin Technopole.

She said land for IT-related uses is estimated to amount to be about 240 hectares.

“By then, Hong Kong will gain a huge advantage in its innovation and technology development, which would possibly be able to compare favorably with Silicon Valley,” said Lam.

The Hong Kong leader also said the SAR will allocate land to the University of Hong Kong and the Chinese University of Hong Kong to support local universities in their innovation and technology development.

The SAR will also support the Hong Kong Polytechnic University in setting up an innovation and technology development center.