THE Guangdong-Hong Kong-Macao Greater Bay Area Union of Innovation China was officially established in Qianhai on Friday.

The union, jointly initiated by Shenzhen Science and Technology Association (SZSTA), Tencent, The Chinese University of Hong Kong, and Macao University of Science and Technology, aims to build a regional collaborative innovation community in Qianhai.

The union will rely on the Greater Bay Area’s existing industrial foundation, focus on Qianhai’s strategic emerging industries, promote the construction of industrial innovation centers in the Greater Bay Area, and set up relevant industry development funds, Lin Xiang, vice president of SZSTA, said at a press conference Friday.

Currently, the establishment of four centers and one industrial fund has been confirmed. They are the Greater Bay Area Innovative Drug Center, the Greater Bay Area Intelligent Manufacturing Center, the Greater Bay Area Carbon Neutral Technology and Industry Innovation Center, the Asia-Pacific E-sports Center, and the “Innovation China” Greater Bay Area Industrial Development Fund.

Wang Jinxia, vice director of the Qianhai Authority, said at the press conference that with the union’s settlement as a new starting point, Qianhai will definitely become an engine for high-quality development of scientific and technological innovation, which will draw international attention.

Wang also revealed that Qianhai will support the union’s development from three main aspects.

The union will receive support in terms of promoting cooperation in science and technology innovation between Guangdong, Hong Kong and Macao, breaking down barriers to the flow of factors such as talent, technology, capital, equipment, information and data. It will also receive support from Qianhai when carrying out the transformation of scientific and technological achievements, as well as extensive international exchanges and cooperation, Wang said.