Tech pacesetter in synch with changing times
Print Edition
The Zhangjiang High-Tech Park in Pudong was one of Shanghai’s pioneer zones in technology development and, like technology, it has to change to keep up with the times.
The zone, established in 1992, has been at the forefront of industries such as life sciences, software, semiconductors and information technology. It is now undergoing a transformation to place heavier emphasis on integrated industry structures, improved financial systems, enhanced lifestyle amenities and the creation of an environment conducive to innovation and entrepreneurial talent.
“We are now more focused on institutional and mechanism reforms along with our emphasis on innovation and scientific achievement,” said Ma Wengang, head of the innovation division on the park’s management committee.
Zhangjiang is home to projects like the Shanghai-based National Center for Protein Science, 12-inch wafer plants for chips with the most advanced technologies and the national level Zhangjiang Biotech and Pharmaceutical center, better known as “Drug Valley.”
There are more than 400 research centers in park, including 133 set up by multinational companies such as Honeywell and SAP.
Biomedicine development
One in every three newly approved drugs in China is developed in Zhangjiang Park, thanks to its rich talent and technology resources. In fact, biomedicine has become an important pillar industry of Zhangjiang, said Jin Ying, deputy director of the Zhangjiang Innopark Administrative Committee.
The 1.45 billion yuan (US$233.8 million) Shanghai Synchrotron Radiation Facility, based in Zhangjiang, has become public testing and analysis platform for pharmaceutical firms and scientists.
Swiss pharmaceutical giant Roche has invested 136 million Swiss francs (US$140 million) in a new 14,000-square-meter research center in Zhangjiang to work on treatment of infectious diseases.
Ankon Technologies, developer of a capsule-sized robot for painless stomach diagnosis, announced recently it will invest 4 billion yuan in a new production line in Zhangjiang, with expected annual production capacity of 1 million units.
With increased production, the cost of stomach diagnosis services in Shanghai hospitals will be significantly reduced from 3,600 yuan now.
New board
Zhangjiang has thrived, supported by government, industry giants, venture capital and private equity.
The park aims to double a government-backed “angel” investment fund to 200 million yuan annually, probably beginning next year, said Jin.
Shanda Group, which used to heavily depend on the online game business, announced three weeks ago that it will establish an innovation fund of 1 billion yuan as part of its expansion into the investment arena.
The Shanghai Pudong Software Industry Park, sub-zone of Zhangjiang with 600 information and communications firms and 40,000 professionals, has established an incubation fund of 250 million yuan. It plans to establish another fund for online-to-offline startup companies in October.
Through the fund and financial partners, companies in the software park raised 10 billion yuan in the past five years, according to Zhang Sulong, the software park’s general manager.
The city’s latest move to support entrepreneurship and innovation is the pending new board at the Shanghai Equity Exchange, aimed at start-up high-tech firms.
More than 50 firms, mainly from Zhangjiang, are expected to be the first group of companies on the new board, which will allow unlisted firms to trade assets, including shares, through the exchange.
The exchange is aimed at helping companies that have difficulties obtaining bank loans or other traditional financing.
The entry criteria for the new board include net assets of more than 3 million yuan, a sustainable business model and a clear share structure.
The A-share main boards in Shanghai and Shenzhen require much higher standards, including demonstration of net profit for three straight years of at least 30 million yuan.
Innovation ‘highland’
Zhangjiang is committed to attracting top-flight talent from both at home and abroad.
Expatriates working in Zhangjiang will be allowed to start their own business and will be given multiple entry visas.
With its Internet Plus strategy and several public services platforms, Zhangjiang is seeking to become a “highland” of innovation and talent nationwide, Ma said.
The zone is also adding cultural elements to make it a more attractive place for families to live. It has opened an art museum and a museum dedicated to cartoons and animation. The committee has organized fashion shows, matchmaking activities and festivals to increase entertainment choices for its workers and residents.
Shopping malls opened last year alongside the software park in Zhangjiang, which also provides low-cost apartments near employers.
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