HONG KONG - Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said Tuesday that the HKSAR government is pushing forward the development of the Hong Kong-Shenzhen Innovation and Technology (I&T) Park in the Lok Ma Chau Loop.

Delivering a speech at a forum, Chan said the Hong Kong-Shenzhen I&T Park will focus on the development of six research and development (R&D) areas, including healthcare technologies, big data and artificial intelligence, robotics, new material, microelectronics and financial technology.

Chan said the park will become Hong Kong's largest-ever I&T platform. Its first phase consists of eight buildings, which are expected to be completed in stages between 2024 and 2027.

The HKSAR government will continue to study the formulation of related policies and explore to provide facilitation and supportive measures on the flows of talents, capital, resources and data between Hong Kong and Shenzhen, he said.

Chan said that establishing an international innovation and technology (I&T) center is a key task in the development of the Guangdong-Hong Kong-Macao Greater Bay Area, which brings valuable opportunities to Hong Kong's I&T development.

The Hong Kong Science and Technology Parks Corporation will assist Hong Kong start-ups in expanding their business in the Greater Bay Area and providing support to mainland enterprises interested in entering overseas markets, he added.