Beijing University (Beida) and the Administrative Committee of the Zhongguancun Science Park jointly launched a hatchery for students returned from overseas so as to help them start up their tiny but promising companies.
At the launching ceremony on Thursday, a 100 million yuan (about US$12 million) fund was also set up to provide seed capital to these small firms settled in the park.
Each of these companies receives a 40 square-meter plot in the park free of charge, which covers a total area of 40,000 square meters.
Currently, there are 1,357 science firms owned by returning students, which account for 13 percent of the total number of companies in the Beida Science Park for Returned Students.
The returning students' companies enjoy favorable policies with regard to registration, taxation and finance, according to official sources.
(Xinhua News Agency September 6, 2002)