BEIJING, Feb. 13 (Xinhua) -- China has officially launched an earthquake prediction project in southwest China that will be open to scientists from around the world, China Daily reported Wednesday.

A budget of 30 million yuan (about 4.43 million U.S. dollars) for purchasing sensor equipment and another 18 million yuan for related work this year have been approved, said the report, citing Wang Manda, deputy director-general of international cooperation at the China Earthquake Administration.

The site of the project, which spans Yunnan and Sichuan provinces, is the first in the world to concentrate on earthquakes with continental epicenters, according to Wang.

A supercomputing platform will also be established at the site to carry out simulations to facilitate research.

Liu Guiping, deputy head of the China Earthquake Networks Center, said Yunnan and Sichuan have been attracting large numbers of geophysicists because of the high frequency of seismic activity in the region.

The new project is likely to see many international specialists return, bringing the latest technologies and research approaches, which will further strengthen the scientific foundation for the research in the area, said Liu.

Wang said the observation data and research results will be shared to the "maximum extent."