SYDNEY, April 3 (Xinhua) -- Police in Papua New Guinea have shot dead three armed men after a daring daylight robbery in the town of Lae.

Allegedly carrying a combination of factory and home-made shotguns, a gang of five men held up a Chinese business and made off with an undisclosed amount of money at about 09:30 a.m. Monday (1130 Sunday GMT).

With shots fired during the robbery, one of the owners and a security guard were reported to have been injured.

"While the robbery was in progress, a police traffic unit was nearby and was alerted by gunshots," Lae metropolitan superintendent Anthony Wagambie told local media.

"Other police units were alerted and quickly blocked off escape routes."

The fleeing gang led officers on a wild chase through the streets of Chinatown, firing at pursuing police vehicles and smashing one of the police car's windscreens.

"Police could not return fire immediately because of the large number of people walking on the road," Wagambie said.

"The police vehicle shot at had one of the members on board and sustained pellet wounds in his left arm."

Eventually the suspects abandoned their vehicle and fled on foot, but a police officer sighted the group at the back of Malahang Technical College and engaged in a shootout with four suspects, according to Wagambie.

"Police reinforcements managed to reach the member and went in further," he said.

With three of the robbers killed at the scene, another was also shot in the left leg.

"The criminals were very daring to shoot at police, not only on one instance but more than seven encounters while on pursuit and on foot," said Wagambie.

The police are continuing to investigate the robbery.