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Article featured in Business Beijing, July 2002
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High-tech Incubator System Succeeding

2002/07/15

Beijing has so far established a "reasonably complete" incubator system, with the number of incubators reaching 47, or more than 15 percent of the country's total, according to Beijng Daily.

The city was one of the first in China to try the system for developing hi-tech industries. Currently, some 1,110 hi-tech enterprises currently being supported by the system can boast a combined sales volume of 2.5 billion yuan (about US$300 million) for the first 11months of 2001.

Under the incubator system, Beijing's software industry has taken shape. Software enterprises account for 29 percent of China's total, and report a total annual sales income of 24.9 billion yuan. Meanwhile, overseas investors have shown great interest in the incubators, with investors from the Republic of Korea alone having set up three in Beijing.

Several others, to be financed by the United States, Hong Kong and Taiwan, are now being planned. According to a development timetable, Beijing will build up a further 30 to 50 incubators, designed to hatch about 400 more hi-tech enterprises within the next three years.



 
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