North China's Tianjin Municipality plans to adopt preferential policies to help set up 1,000 new small and medium-sized technological businesses this year,which will create 10,000 jobs, according to the city's science and technology committee.

The city now has nearly 50 technological business incubators, which will provide funds, office places, and training to potential business-starters. These incubators will help set up 1,000 small- and medium-sized technological firms.

Tianjin will also set up 30 guarantor enterprises and six industrial associations in light industry, metallurgy, chemical industry, electronics, cars and machinery.

The local scientific and technological association will set a special fund to support technological businesses. The fund will reach 30 million yuan (3.62 million US dollars) this year and increase each year.

Source: Xinhua