HONG KONG -- The Hong Kong and Guangdong governments will jointly provide funding for four applied research and development projects under the Guangdong-Hong Kong Technology Co-operation Funding Scheme, a government press release said on Tuesday.
According to a press release from the Information Services Department of Hong Kong Special Administrative Region government, the funding scheme, launched in 2004 by the Hong Kong/Guangdong Expert Group on Co-operation in Innovation and Technology, serves to enhance the collaboration between research and development institutions and industry in the two places. The scheme will also upgrade the technology level of industry in the Greater Pearl River Delta region.
In the past four years, the two governments have supported more than 660 research and development projects with total funding of HK$1.63 billion (US$210.55 million).
"To further enhance Hong Kong's technology collaboration with Guangdong and Shenzhen, a category of co-funded projects was introduced last year, under which projects are to be funded jointly by the Guangdong and Hong Kong authorities or the Shenzhen and Hong Kong authorities," a spokesman for the Innovation and Technology Commission said Tuesday.
"Through closer co-operation and exchanges between the two sides under this category, we hope to enhance the innovative and technological upgrading of Hong Kong and the Guangdong area more effectively," he said.
He said that a total of 11 applications seeking joint funding from Guangdong and Hong Kong were received when applications closed on October 15. These applications have been vetted jointly by the Hong Kong and Guangdong sides. The results of applications seeking joint funding from Shenzhen and Hong Kong will be announced later.