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Last updated at: (Beijing Time) Saturday, December 07, 2002

China Nurtures over 400 Business Incubators

China has established a fairly comprehensive business incubator system, with 400 incubators so far, the second highest number in the world after the United States.


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China has established a fairly comprehensive business incubator system, with 400 incubators so far, the second highest number in the world after the United States.

Incubators, introduced to China in the late 1980s, are a kind of professional organization providing all-round legal, taxation and financing services to small and medium-sized enterprises with the aim of encouraging their healthy and rapid growth.

Beijing is one of the first Chinese cities to try such a system for developing the high-tech industry. Currently, some 980 high-tech enterprises in the city are being supported by the incubator system.

In the center of the Zhongguancun Science Park, a business parknorth of Beijing, is the largest incubator among similar parks throughout the country. So far more than 140 returned students from overseas studies are engaged in 127 high-tech projects there.

Meanwhile, overseas investors have shown great interest in setting up incubators, with investors from the Republic of Korea alone establishing three in Beijing. Several others to be financedby the United States, Hong Kong and Taiwan are now being planned.

According to a development timetable, Beijing will build up another 30 to 50 incubators, to hatch about 400 more high-tech enterprises, within the next three years.


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