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Shanghai to Create More Favorable Environment for High-tech Industry
Shanghai is currently considering changing its policies to make the environment more favorable for the growth of its fledging high-tech industry, said senior officials of Shanghai.
The planned policy adjustment, including a list of tax concessions for Shanghai's high-tech companies, will put the city well ahead of China's other high-tech centers, such as Beijing and Shenzhen, and will ensure that it dominates the domestic high-tech market.
"Shanghai has the capability to provide a better environment and help fuel the growth of its high-tech industries and it should do what it can to make this happen," said Cai Minyong, president of the Shanghai New and High-Tech Service Centre, which is a governmental organization that provides support for the city's high-tech startups.
Cai said the imminent policy shake-up will make things much better than they are at present. "But the details are still under discussion," he said.
Cai also encouraged the high-tech firms to look overseas to the world's major capital markets for funds.
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