The Hong Kong Science Park on Thursday opened its new branch in Futian, Shenzhen, saying the move is in line with the country’s plan to turn the area into a hub for innovation and technology.

Speaking to reporters after the opening ceremony, Peter Mok, head of the Greater Bay Area division of the Hong Kong Science Park, said the new branch across the border will strengthen collaboration and facilitate information exchange between the two sides.

"The Shenzhen branch has already welcomed 16 companies, and I expect to see around 30 to 40 enterprises joining us in the next two to three months. By the end of March next year, we expect the total number of companies in the Shenzhen branch to reach around 50,” he added.

Chief Executive John Lee, for his part, said the new Shenzhen branch will accelerate the development of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperative Zone.

He added that his administration will continue to develop the Hong Kong side of the cooperative zone and strengthen the SAR’s role as the bridge between the mainland and the rest of the world.