Over 70 science parks attract 15,000 returned students for businesses

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Last updated at: (Beijing Time) Wednesday, October 08, 2003

Over 70 science parks attract 15,000 returned students for businesses

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At present, China has established more than 70 science parks for students returned from overseas. With 15,000 students back from overseas to start up their businesses in over 4000 companies, science parks have played an important role in speeding up the development of high and new technology and its transformation into results.

According to statistics, since the implementation of reform and opening to the outside world, there have been a total of 580,000 Chinese students going overseas to study in more than 100 countries and regions. In the year 2002 alone, the number of overseas Chinese students on all subjects hit a record of 120,000 in total. While seeing no decrease of students going abroad for study, the tendency for overseas students to return is on the rise. In the year 2002, we witnessed 17,945 students to return home, up 30 percent as against that of the year 2001, far more than the rise of about 13 percent over recent years. Among those students who have not returned, more than 200,000 are still at school. Among those who have graduated, nearly half of them have returned to serve the motherland. Many of the students who remain abroad are also serving the country in various ways.

In order to encourage Chinese students studying abroad to return home for starting their businesses, many sci-tech parks have worked out a series of favorable policies. For instance, in terms of the company registration, unrestricted conditions are provided for students returned from overseas to set up companies. Technological achievements can be transferred into shares after being evaluated, and the proportion of the shares can be fixed through negotiation among the parties concerned. At the initial stage of the business, the company established can receive free financial aid and loans of discounted interest. The spouse and children of the students returned can move with them free of relevant charges and are provided with subsidies for settlement. These policies have lightened the difficulties facing returned overseas students at the beginning of their business and encouraged the emergence of a batch of excellent companies.

According to relevant information sources, sci-tech parks are playing an important role in speeding up the research and development of high and new technology, and the transformation of technology into achievements. In the Beijing Zhongguancun Science Park alone, there are more than 1,800 companies with an annual output value of over 30 billion yuan.

This is an article written by Yu Wen on page eleven, People's Daily, October 8; translated by PD Online staff member Gao Lanrong.

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