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Software Company Set up in Beijing
Tsinghua Tongfang Software Co, one of the capital's first high-tech enterprises to allow its staff to buy shares of the company, was formally launched yesterday in Beijing.
The company's major share holder is Tsinghua Tongfang Co, a Shanghai-listed high-tech company formed after the merge of several enterprises owned by Qinghua University in Beijing.
Eight per cent of the 50 million yuan (US$6.02 million) of the software company's capital is controlled by the research staff in the form of intangible assets. These assets are the new technology that the company has developed. The staff contributed their know-how to the development of the technology and they therefore own a share of the intellectual property rights. This is the first time in Beijing that staffers have been given this kind of a stake in their company.
The company will focus on the development and marketing of software for e-commerce, education, enterprise information management and digital appliances.
The new company is based at Qinghua University's software technology centre, China's first ever centre to export software.
Company chairman Sun Jiaguan was once a computer professor at Qinghua University and is a member of the Chinese Academy of Engineering.
"We would like to make it easier to translate research results into products and profits," said Sun. He said the company is planning to be listed on the as yet unveiled high-tech dominated second domestic board within a year.
The government recently announced that it strongly supports the domestic software industry.
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