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HK, Shenzhen to develop technology park

AAP logoAAP 4/01/2017

Hong Kong and Shenzhen will jointly build a technology park dedicated to the development of robotics, biomedicine, smart cities and financial technology, media reports say.

The park, spanning 1.2 million square metres, will house the main financial centres of Asia, Hong Kong and Shenzhen, home to most of the large Chinese technology firms.

Authorities of both cities on Tuesday signed an agreement for the construction of the facilities, ending a dispute on the ownership of the territories, which will be resolved with the technology park, located on the border between the Chinese city and the former British colony.

The so-called Lok Ma Chau Loop, an area which until 1997 was part of Shenzhen and was assigned to Hong Kong this year when the former colony was returned to China, will house the park.

Hong Kong authorities hailed the project, funded by the Hong Kong government and operated by the Science and Technology Parks Corporation, as the city's largest ever tech platform.

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