Tech ties: Secretary for Commerce & Economic Development Frederick Ma meets the media after attending the first meeting of the steering group on Shenzhen/Hong Kong co-operation in innovation and technology in Shenzhen.

Given the geographical proximity and close economic relations, there is room for co-operation between Shenzhen and Hong Kong in innovation and technology, Secretary for Commerce & Economic Development Frederick Ma says.

He made the remarks after attending the first meeting of the steering group on Shenzhen/Hong Kong co-operation in innovation and technology in Shenzhen today, adding the steering group is an important platform in co-ordinating technology collaboration and exchange between the two sides.

In the meeting, the two sides agreed that good progress has been made in fostering technology exchanges between the two places since the signing of the co-operation agreement on "Shenzhen/Hong Kong Innovation Circle" in May. The meeting also discussed future work directions and plans.

Funding scheme deadline: October 22

They also agreed to study ways to facilitate the exchange of technology talent, technology resources and information.

Both sides will continue to implement the category of projects to be funded jointly by the Shenzhen and Hong Kong authorities under the "2007 Hong Kong/Guangdong Technology Co-operation Funding Scheme" which was launched in September and to consider new technology areas for funding support.