Heavy Investment to Be Put in Zhongguancun

Beijing Mayor Liu Qi announced that 1 billion yuan worth of risk investment will be put into the development of small and medium-sized enterprises in Zhongguancun by the Beijing Holding Company.

Financing difficulty has long been a major factor impeding the development of Beijing's high-tech enterprises. The lack of funds on the part of many small and medium-sized enterprises in Zhongguancun Technological Park has adversely affected the conversion of technological achievements into productive force and market development. Beijing established five investment funds and guarantee funds with the total value of 1 billion yuan for high-tech enterprises, however, the money falls far short of the need for the development of Beijing's high-tech industry.

The Beijing Holding Company has raised HK$4 billion and invested 3 billion yuan in the capital's economic construction. This decision announced by Liu Qi demonstrates Beijing's confidence and determination in the building of Zhongguancun Science Park and the move to attract more investment into Zhongguancun.

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