(Yicai) Aug. 3 -- Shanghai Lingang Group is linking arms with Hong Kong investment firm Gravity Capital Partners to set up a science and innovation investment platform to advance the industrial application of Hong Kong’s academic research, the Chinese industrial park developer said today.

The platform will promote the industrialization of high-tech achievements by professors at Hong Kong universities and help scientific results produced in Hong Kong to be applied in more scenarios in the mainland, the group said, citing the memorandum of understanding signed between the two parties yesterday.

The tie-up is a major move by Shanghai Lingang Group to expand its footprint overseas, said the state-owned firm which owns a listed company called Shanghai Lingang that is included in the FTSE Global Equity Index Series and MSCI flagship indexes.

The deal was signed at a forum held by the Hong Kong Trade Development Council and Hong Kong’s seven chambers of commerce. Around 200 representatives from the special administration region’s business, finance and scientific innovation departments as well as firms backed by Hong Kong, foreign and mainland funds were present.

Editor: Kim Taylor