24 January 2024
On 24 January 2024, the Shenzhen Finance Bureau issued the “Implementation Opinions on Reforming and Improving the Input and Usage Management of Municipal-level Fiscal Scientific Research Funds” (“the Opinions”). The Opinions encouraged the higher educational institutions and public scientific research institutions of Hong Kong and Macao to lead or independently apply for science and technology projects in Shenzhen Municipality and permit the project funds to be directly transferred to the leading or participating units of Hong Kong or Macao. For the scientific research projects undertaken by the Shenzhen research institutes of Hong Kong and Macao universities, a certain proportion of the scientific research funds shall be allowed to be appropriated cross-border to the Hong Kong and Macao universities and public scientific research institutes for the purpose of scientific research activities. The Opinions shall be effective on 1 January 2024.