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Beijing to Inspire New Technology Development via Market
Beijing, already set with "knowledge-oriented economy" as its development strategy, has worked out a series of policies, determined to realize the aim by the means of market, rather than exerting administrative control in the economic sector.
Lin Wenyi, vice-mayor, said the government will inspire new and high technological development with civilian and foreign investment and a comprehensive market regulating system. The government will only play the role of macro-economic control.
Therefore, the government will set up a number of business incubators. By providing high-tech enterprises site, registry and financing services, the incubators will ensure the enterprises inside concentrate on technological research and development.
High-technological projects are featured more investment and more return. The government will gradually introduce risk investment and at the same time take out the governmental financial support in the aspect to lower the risk of State assets.
Fang Gang, a well-known economist in China, said under the market economic structure, what the government should do is to work out related regulations and laws, protect property rights, sustain the market order and improve infrastructure facilities.
To make full use of the market role, the local government has launched a website on the Internet, issuing information on high-tech projects for investment, thus increasing the direct financing proportion in the sector.
Large-sized high-tech exhibits and trade fairs held in the city also achieved encouraging results. Official statistics show the technological contracts signed in 1999 in such activities involved 9.2 billion yuan (about US$110.4), and the figure in 2000 approximated 14 billion yuan.
Also, with a large number of national research institutions in various fields in the city, cooperation inspiration efforts between enterprises and such organizations will be of great value in pushing the city's economic growth.
Lin said by now, the city has established over 30 incubators, helping over 300 projects mature. The effort has, on the other hand, added over 5,000 job opportunities to the city.
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