Recent development

Over the past year, around 30 key projects to improve the basic infrastructure have been underway.

Fourteen projects were built in the western Zhongguancun area, including the China Technology Trade Center, National Digital Copyright Research Center and the Capital Technology Intermediate Service Center.

A major task of the local government is to promote cooperation between enterprises, universities and research institutions, said Lin.

Another important aspect is financing these operations. Last year, 12 technology-oriented financial institutions were introduced into the western Zhongguancun area.

The Zhongguancun Equity Investment Building also became operational, and is now home to 38 new equity investment companies, managing a total of 100 billion yuan.

In the future, Lin said, the local government would continue to work to develop the innovation model park.

"Preferential policies is not our only offering," said the mayor, "our tasks will include proposing a strategic development plan, continuing to improve infrastructure and services, deepening financial reforms, strengthening international cooperation and promoting closer ties among enterprises, universities and research institutions."

Lin also hopes to improve basic services. For example he said that the time taken for approving business startup will be shortened by at least 50 percent.

With regard to finance, Lin expects a national equity trade and investment center will be established which will house about 200 companies and manage total assets of more than 150 billion yuan.

Lin looks forward to Zhongguancun becoming an international innovation base for technology, with facilities such as a research center, business center, trade center and human resources training center.

(China Daily March 5, 2010)