China's Vice-Premier Li Keqiang (L) attends a celebration ceremony marking the centennial anniversary of the founding of the Hong Kong University, Hong Kong, Aug 18, 2011. [Edmond Tang/chinadaily.com.cn]

The central government will establish a fund to sponsor 1000 Hong Kong students and teachers each year to study or conduct joint scientific research projects as part of an exchange program in the mainland starting from next year, Li Keqiang said on Thursday morning while attending the centenary ceremony of The University of Hong Kong (HKU).

He said that the aim of the measures are to help Hong Kong people understand China even more, and to boost cross-border cooperation in educational sector.

Speaking at the HKU’s centennial celebrations, Li praised Hong Kong's young generation as ambitious, promising, and possess a sense of responsibility. He expressed his confidence in the city's young people, saying HK's youth, as an asset to China, will contribute to the nation's development.

He went to say that by attracting talents and through its education, the HKU was propelling the city’s prosperity and playing an increasingly vital role in the process of integrating with the world.