Financial Secretary Paul Chan started his Beijing visit today by meeting officials and students.

He attended the opening ceremony of the Youth Internship Programme at the Chinese Academy of Sciences and spoke with students participating in the scheme, before visiting the Academy's Institute of Automation.

He said the Hong Kong Special Administrative Region Government has been allocating substantial resources to develop innovation and technology into a new driver of economic growth.

He thanked the academy for offering young Hong Kong people valuable internship experience and an opportunity to learn, work and research under the guidance of the country's top scientific experts.

Organised by the Home Affairs Bureau, the programme nurtures students' interest in I&T and deepens their understanding of the country's latest technological developments.

Mr Chan later called on Director of the Hong Kong & Macao Affairs Office Zhang Xiaoming to update him on Hong Kong's latest developments.

He then met Minister of Science & Technology Wang Zhigang to thank his ministry for supporting Hong Kong's I&T development, particularly in opening up Central Government science and technology funding for application by higher education and research institutions in Hong Kong.

He said the move boosts the role of Hong Kong's technology sector in promoting national technological advancement.

More than $50 billion was set aside in the 2018-19 Budget to support Hong Kong's I&T development, with a focus on the four key areas of biotechnology, artificial intelligence, smart city and financial technologies.

He added $20 billion of the sum will be used for the first phase of the Hong Kong-Shenzhen Innovation & Technology Park in the Lok Ma Chau Loop.

Mr Chan later met President of the China Investment Corporation Tu Guangshao.