Chief Executive Carrie Lam opened the Forum on Mainland-Hong Kong Cooperation in Innovation & Technology today.

Held by the Hong Kong Special Administrative Region Government, more than 100 academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, as well as representatives from the HKSAR Government and the technology sector, attended.

Participants discussed new opportunities that will be brought about by the opening up of funding by the Ministry of Science & Technology and the Ministry of Finance for application by Hong Kong higher education and research institutions.

Mrs Lam said the forum was to brief research experts on the Central Government's new guidelines to support the development of innovation and technology in Hong Kong and Macao.

Under the guidelines, universities and research institutions in the two cities can bid for funding to undertake central fiscal science and technology projects, on the basis of merit and competition.

The new arrangements have realised cross-boundary remittance of project funding, which the local technology sector has long been calling for.

Mrs Lam added: "Local research will be funded by the science and technology funding of the Central Government. This will foster technological co-operation between Hong Kong and the Mainland and give full play to the unique advantages in technology of the two places, laying a solid foundation for the Hong Kong-Shenzhen Innovation & Technology Park in the Lok Ma Chau Loop.

"The policy also paves the way for building the Guangdong-Hong Kong-Macao Bay Area into an international innovation and technology hub and provides incessant impetus for the current-term Government in spurring innovation and technology development."

Vice Minister of Science & Technology Professor Huang Wei announced details of the new policy at the forum, while Deputy Director of the Hong Kong & Macao Affairs Office Huang Liuquan and Deputy Director of the Liaison Office of the Central People's Government in the HKSAR Tan Tieniu spoke at the meeting as well.

There was also a panel discussion in which several speakers gave their views on the new policy.