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September 16, 2011

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Centers of innovation set up

SHANGHAI and the United Nations yesterday jointly unveiled two high-tech industrial centers that will help the city boost innovation, develop its key emerging industries and encourage cooperation between emerging markets.

The International Industry and Information Technology Promotion Center has released a cooperation framework between the BRICS countries - Brazil, Russia, India, China and South Africa - to promote technology cooperation between government institutions and enterprises.

The center intends to cooperate fully in key areas that include green technology and sustainable development, smart city and emerging industries of strategic value.

The Shanghai High-tech Innovation and Development Center will connect innovative programs and financial institutions as well as boost the convergence of industrial and information technologies. It will match start-up firms with institutions, including China Everbright Group, which will provide venture capital that could act as an incubator for them.

The centers are supervised by the United Nations Industrial Development Organization and will serve as a platform to promote the application of new technologies and cooperation between nations and enterprises.

The centers were unveiled during the Global CEO Conference organized by UNIDO and the UN South-South Cooperation Development Center in Shanghai yesterday.

Shanghai has picked nine key emerging industries, including new energy, new energy vehicles, advanced major equipment, civil aviation manufacturing, new materials, software and information, and biopharmaceutical.

The industrial production of the city's key emerging sectors may hit 1 trillion yuan (US$156 billion) this year from 886 billion yuan in 2010, said Shang Yuying, vice director of Shanghai Municipal Commission of Economy and Information.

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