Zhangjiang high-tech park plans expansion
(eastday.com)
Updated: 2004-03-13 11:30

Shanghai Zhangjiang High Technology Park, a local version of Silicon Valley, announced yesterday it will provide a more investment-friendly environment to attract investors.

The government-backed park, located in the east of the city, will be enlarged by 3.2 square kilometers by the end of this year from 17 square kilometers. The park's managers are considering offering a preferential tax policy to integrated circuit companies this year.

Shanghai government will also build two additional stations of Metro Line 2 in the park.

"We will provide more favorable policies and conditions this year as well as strengthen current pillar industries," said Chen Jianbo, vice director of the park.

Zhangjiang park, whose pillar industries are software, integrated circuit and bio-pharmaceutical, plans to attract US$700 million in foreign investment and 3.5 billion yuan (US$422 million) domestic funds.

"Our focus is still on the three pillar industries," said Jiang Sixian, Shanghai vice mayor and head of the park authority.

Last year, US$822 million foreign investment and 3.51 billion yuan domestic funds flowed into the park.

Semiconductor Manufacturing International Corp, the biggest chipmaker in the Chinese mainland, invested US$1.6 billion to open its plant in the park.

Over 50 firms have research and development centers in the park, including General Electric Co, Roche Ltd, Askey Computer Corp and ZTE Corp.

"We choose Zhangjiang because of rich talent resource available here," said Hou Weigui, ZTE's president.

More than 2,500 engineers worked in ZTE's center.

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