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Thursday, 25th June 2009 (1081 views)

Hong Kong is to continue investing in nanotechnology in order to become a leader in the sector, a government official has stated.

Nicholas Chan, assistant commissioner for innovation and technology, told the Sino-Italian TechX forum that the territory has solid fundamentals in place for the development of nanotechnology, Xinhua reports.

He said that Hong Kong has "excellent upstream research" in the sector - in which gold is often a key component - and added that it has already made "world-class achievements" in the development of nanotubes.

Over 12 per cent of the HK$4 billion (£316 million) spent by the Innovation and Technology Fund over the past decade has been invested in nanotech, Mr Chan remarked, adding that the funding has been used in the areas of "bioinformatics, molecular diagnostics [and] drug and therapeutic discovery and development".

New York has also made nanotechnology research a priority, with governor David Paterson recently announcing plans to increase investment in the sector.

 

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