Hong Kong and Shenzhen signed an agreement Monday to promote and enhance their technology collaboration, including resources and talents sharing.

The Shenzhen-Hong Kong Innovation Circle pact is aimed at upgrading the two cities into a region with ample innovation resources and dynamic innovation activities.

The two cities will form a Steering Group on Shenzhen-Hong Kong Co-operation in Innovation Technology to facilitate high-level deliberations in deciding the details for the implementation of the innovation circle. It is also responsible for coordinating technology collaboration and exchange between the two sides.

Hong Kong Financial Secretary Henry Tang said the signing of the deal will bolster innovation and technology co-operation between the two cities. Hong Kong government will promote talent and academic exchange as well as technical collaboration between Hong Kong and the Chinese Mainland.

(Xinhua News Agency May 22, 2007)