The governments of Hong Kong Special Administrative Region (HKSAR) and Guangdong Province will support 126 applied research and development (R&D) projects with funding of 360 million HK dollars (US$6.5 million) under the 2005 Guangdong-Hong Kong Technology Cooperation Funding Scheme.

According to a government press release on Friday, under the 2005 funding scheme, the Department of Science and Technology of Guangdong Province and the HKSAR Innovation and Technology Commission (ITC) will provide funding support to universities, research institutions and private enterprises to conduct applied R&D in six technology areas of common interest.

The six technology areas are information and communications technology, critical precision manufacturing technology, medical biotechnology and medical device, new materials, food safety and agricultural product processing, and environmental technology and green manufacturing.

These areas are relevant to the needs of the industry and will enhance economic development in the Greater Pearl River Delta (PRD) region.

Under the scheme, the Hong Kong side accepted applications from local organizations or companies which were the principal applicants, and the Guangdong side accepted applications from organizations registered in Guangdong as the principal applicants.

"During the application period from June 13 to Aug. 12, 2005, the Hong Kong side received 89 applications while the Guangdong side received 306 applications," a spokesman for the Innovation and Technology Commission said on Friday.

Both sides have completed the assessment. The Hong Kong side and the Guangdong side have approved funding support for 32 and 94 projects respectively in the six technology areas.

(Xinhua News Agency January 28, 2006)