New policy aims to boost tech innovation
By Zhu Shenshen |
July 11, 2011, Monday
|
Print Edition
Print Edition
EMPLOYEES working in state-owned firms, universities and research organizations in Zhangjiang High-Tech Industrial Park will be allowed to buy stocks or options as part of a latest policy by Shanghai to encourage technology innovation, the park operator said yesterday.
Under the policy approved by the country's regulators at the weekend, they can still buy shares and options even if the organizations they work for have not been listed yet.
It's a great catalyst for technology and management talents to develop in Zhangjiang, said the operator of the park which is seen as China's silicon valley due to the clusters of integrated circuit, software and IT service and bio-medicine industries.
The latest policy seeks to improve the environment for innovation and create a more investment-friendly system, industry insiders said.
Thirteen Shanghai-based IT firms, which have applied to launch domestic initial public offerings, may list this year, the city's industry regulator said recently. Several of them are based in Zhangjiang, said Zhu Zongyao, a senior official at the Shanghai Municipal Commission of Economy and Information Technology, who declined to elaborate.
Game giant Nasdaq-listed Shanda Entertainment and Hong Kong-listed Semiconductor Manufacturing International Corp, the Chinese mainland's biggest made-to-order chip maker, are headquartered in Zhangjiang as are firms focusing on latest technologies like Internet of Things and Radio Frequency Identification.
Under the policy the local government will support firms in Zhangjiang in five areas - stock incentive, talent management, favorable tax, financial support and management innovation.
Under the policy approved by the country's regulators at the weekend, they can still buy shares and options even if the organizations they work for have not been listed yet.
It's a great catalyst for technology and management talents to develop in Zhangjiang, said the operator of the park which is seen as China's silicon valley due to the clusters of integrated circuit, software and IT service and bio-medicine industries.
The latest policy seeks to improve the environment for innovation and create a more investment-friendly system, industry insiders said.
Thirteen Shanghai-based IT firms, which have applied to launch domestic initial public offerings, may list this year, the city's industry regulator said recently. Several of them are based in Zhangjiang, said Zhu Zongyao, a senior official at the Shanghai Municipal Commission of Economy and Information Technology, who declined to elaborate.
Game giant Nasdaq-listed Shanda Entertainment and Hong Kong-listed Semiconductor Manufacturing International Corp, the Chinese mainland's biggest made-to-order chip maker, are headquartered in Zhangjiang as are firms focusing on latest technologies like Internet of Things and Radio Frequency Identification.
Under the policy the local government will support firms in Zhangjiang in five areas - stock incentive, talent management, favorable tax, financial support and management innovation.
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