SAR scientists have condemned the Government's research funding policy as inadequate to develop and diversify into new fields.
Hong Kong's spending on research lagged behind that of Taiwan and Singapore, said dean of the Faculty of Science and Engineering at City University, Professor Roderick Wong Sue-cheun.
A study by the Hong Kong Institute of Science, a collective of local academics founded in 1992, last year reported that Hong Kong's gross expenditure on pure research and development accounted for 0.36 per cent of its gross domestic product in 1998, trailing behind Taiwan's 1.74 per cent and Singapore's 1.62 per cent.
The current available funding in the SAR was 'peanuts', Professor Wong said. 'Hong Kong should have an independent funding body like the National Science Foundation or the National Institute for Health in the United States endowed with huge budgets,' he said.
The institute has called for a substantial increase in the research and development budget over the next decade to train a bigger pool of talent in high-end technology and attract increased private investment. Professor Wong thought Hong Kong had huge potential for becoming a leading centre for the development of electronic engineering, material sciences and IT, and was especially suited due to the limited space and facilities required for research in those areas.
Criticising the Government's policy of reducing funds for universities, president of Hong Kong University of Science and Technology Professor Paul Chu Ching-wu revealed this week that HKUST was seeking sponsorship from US companies to support research and development.