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March 31, 2011

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High-tech park earns national recognition

SHANGHAI Zhangjiang High-Tech Industrial Park in the Pudong New Area has been approved as a national innovation industry zone.

It's the country's third national innovation zone, Shanghai Mayor Han Zheng said. The others are Zhongguancun zone in Beijing and Donghu zone in Wuhan, Hubei Province.

To develop the Zhangjiang zone, Shanghai has provided favorable policies for firms, including tax and talent incentives, share structure and financing services.

Many high-tech companies - including software, integrated circuit, online gaming and pharmaceutical firms - have set up in the Zhangjiang park, founded in 1992.

About 3,000 authorized high-tech firms have located in the zone, accounting for 55 percent of all such companies in Shanghai.

Last year, firms in the zone generated 661.9 billion yuan (US$100.2 billion) in revenue, according to city officials.


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