The Hong Kong and Guangdong governments have approved funding for 24 Hong Kong and 43 Guangdong projects under a joint funding scheme to support research and development projects in six key technology areas.

During the application period from September 13 to October 21, the Hong Kong side received 79 applications while the Guangdong side received 186 applications, the Innovation & Technology Commission said.

The applications received by both sides have been considered separately by assessment panels drawn up by each side, with the participation of experts from the other side.

Among the 24 projects approved by the Hong Kong side, six are projects of radio frequency identification technologies, seven are projects of automotive parts and accessory systems and one is of electronic and information technology.

Three projects are of new materials and fine chemical processing, six are of critical precision manufacturing equipment, and one is of new energy and energy-saving related technologies.

Under the scheme launched in September, the Guangdong Provincial Department of Science & Technology and the Hong Kong Innovation & Technology Commission will provide funding support to universities, research institutions and private enterprises to conduct applied research and development.