University Backed Hi-tech Company Founded In BeijingA hi-tech stock company, believed to be first of its kind in Beijing, has been jointly founded by the China's prestigious universities and the Industrial Development Zone Company of Miyun County in Beijing's outskirts.The new company has a registered capital of 60 million yuan (US$7.2 million). The Industrial Development Zone Company owns 78.6 percent stocks of the new company. A group of hi-tech affiliated companies, under famous universities like Beijing University and Qinghua University, and other hi-tech companies are the other shareholders in the new company. Since the Industrial Development Zone Company in 1992, it has had 30 affiliated companies, either wholly owned, predominantly owned or partly owned. And the Industrial Development Zone Company has earned a total of 655 million yuan (US$79 million) and has cooperated with the universities to introduce and carry out 26 hi-tech projects. |
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