03 August 2023
On 3 August 2023, the General Affairs Office of the Guangzhou Municipal People’s Government issued the “Various Measures for Reforming and Improving Municipal Fiscal Scientific Research Funds” (“the Measures”). The Measures proposed to promote the cross-border flow of fiscal research funds, accelerate the free flow of scientific and technological elements in the Guangdong-Hong Kong-Macau Greater Bay Area, support higher and scientific research institutions in Hong Kong and Macao participate in the application for science and technology projects and apply for project funds in the form of project based. In addition, the Measures aimd to improve the mechanism for the cross-border fiscal funds for scientific research in Hong Kong and Macao, promote the cross-border allocation of fiscal funds and deepen the scientific and technological innovation cooperation and exchanges in the GBA.