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Hi-Tech Companies on Rise in Shanghai
The number of hi-tech companies in Shanghai has exceeded 12,000, 26.9 percent more than last year, according to latest statistics.
Observers here attribute the accelerating growth to the favorable environment of talent and venture capital, and the improving quality of service.
Although accounting only for 0.8 percent of the total number, the city's top 100 high-tech enterprises reported annual revenue of 53 percent of the total, each of them having over 100 million yuan (12 million U.S. dollars), and seven having more than 1 billion (120 million U.S. dollars) yuan in annual output value.
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