The three parties agreed to channel 100 million Hong Kong dollars (US$12.8 million) in the coming five years to set up a research fund and to support the two research centers at the Shanghai Institute of Biological Sciences and the Chinese University of Hong Kong (CUHK), according to CUHK's vice- chancellor Arthur K.C. Li.

This was the first collaboration of the kind to promote biosciences research, and partners will capitalize on their respective expertise and resources in a sustained manner over a long period of time, Li said at the signing ceremony.

The collaboration is an effective way to combine the modern technology with economy, said Lu Yongxiang, president of the Chinese Academy of Sciences. He hopes that the two centers will create the world-class biological achievements.

Molecular biosciences and biotechnology research are recognized as crucial elements in China's national strategy for food and healthcare security in the 21st century, since adequate food and healthcare are top national priorities with 22 percent of the world population but only 7 percent of the cultivated land.

The main effort will focus on basic research with potential for applications through biochemical, pharmacological and genomic studies.

(People's Daily)