The University of New South Wales (UNSW) has secured the financial support of eight Chinese companies to build a new science and technology precinct on the Kensington campus.

Key points: UNSW secures cash to develop technology destined for global export markets

UNSW secures cash to develop technology destined for global export markets Uni hopes to raise $100 million by 2025

Uni hopes to raise $100 million by 2025 Says project will enhance students' employability

The university is hoping to garner $100 million in investment for the project by 2025 and has secured $30 million in Chinese support for Australian research so far.

Prime Minister Malcolm Turnbull and Chinese Premier Li Keqiang announced the partnership on Thursday night in Beijing.

The initial investment will be used for the research and development of technology at UNSW as well as the establishment of affiliated entities in China.

Developed technology will be taken overseas to be commercialised in these companies and then be sold on global export markets.

The partnership is backed by China's Ministry of Science and Technology through the Torch program, which aims to develop the technology industry.

University International executive director and former Australia China Business Council chief executive Laurie Pearcey said he was confident with the $100 million target.

"$100 million is an aspirational target and I have every confidence that that sort of target is not an unrealistic objective for us to be pursuing, albeit over the course of a staged process," he said.

Project to boost Australia's GDP

He added the university travelled to Beijing with hopes of securing between $5 million and $10 million and the financial boost of $30 million exceeded their expectations.

The financed research will focus on areas of biotechnology, advanced materials as well as energy and environmental engineering.

"These are three broad research themes which speak to UNSW's research strengths, but at the same time they speak to demand from Chinese industry partners and also the broader direction of the Chinese economy," Mr Pearcey said.

The university cited modelling by Deloitte Access Economics which estimated the project could add more than $1 billion to Australia's GDP over its first 10 years.

UNSW said 150 similar precincts in China currently generated 7 per cent of GDP, 10 per cent of industrial output and 16 per cent of export value.

Student opportunities immense: university

Mr Pearcey said the effect of the investment on existing students on campus would initially be modest but the long-term gains would enhance their employability.

"They're going to see UNSW researchers working hand in hand with industry partners and the opportunities of that are immense," he said.

"It's going to mean the opportunity for UNSW students to undertake an internship, do a practicum, have an overseas placement with one of our companies.

"If you think about the potential benefits in graduate employment for our students, this is significant."

Mr Pearcey said the development of technology was crucial to the future viability of China's economic model which he said Australia had a vested interest in as a regional trade partner.

"The only way that there can be sustainability to their GDP is if China moves to a more sustainable growth model," he said.

"And from my point of view, the only way that can happen is through technology."

Mr Pearcey said Australia's manufacturing industry was often outstripped by the scale of its Chinese counterpart, emphasising the need for regional links as mining investment and commodity prices cool.

"The only way that we can access that scale is by going globally," he said.