From 2012 to 2016 the two countries will jointly spend up to $10 million on approved projects that advance bilateral science and technology co-operation in three areas: food safety and security; non-communicable diseases; and water research. Each county will contribute $5 million.
On Sunday Madam Liu met Mr Key and Auckland Mayor Len Brown, visited Auckland University and was guest of honour at a dinner hosted by Sir Don McKinnon as chairman of the New Zealand Council.
She is a member of the politburo and a state councillor with responsibilities for education, science, screen and television, and culture.
Earlier in the year there was some speculation that she might make it to the elite seven-member standing committee of the politburo in the leadership reshuffle in November but that did not occur.
She is one of two women on the 25-member politburo.