Cross-boundary Remittance of Research and Development Funding from Mainland to Hong Kong
Since 2018, Guangdong and municipalities in the Greater Bay Area have gradually opened up their scientific and research funding schemes to Hong Kong, providing funding support for Hong Kong’s universities and research and development (R&D) institutions for conducting R&D projects or setting up laboratories. Approved scientific and research funding has gradually been remitted to R&D institutions in Hong Kong, providing new impetus to the development of Hong Kong’s innovation and technology. As of October 2022, RMB 410 million of scientific and research funding has been remitted from other municipalities in the Greater Bay Area to Hong Kong (as well as RMB 250 million from the Ministry of Science and Technology and other Mainland provinces and municipalities) for local universities and R&D institutions for conducting R&D projects or setting up laboratories.
