In another southern city, Guangzhou, companies buying scientific and technology patents can seek government subsidies of 5 percent of the value of research result transactions. Newly established tech companies can also apply for subsidies of up to 50 percent of their rent for three consecutive years.
"We encourage enterprises to cooperate with universities and research institutes," said Chen Yanling, an official with the municipal government of Guangzhou.
GLOBAL OUTREACH
From inland cities to the coast, local governments have also stressed global outreach to foster creativity.
A high-tech development zone in the eastern city of Shanghai opened an enterprise park in Boston in February to promote China-U.S. technology innovation. The park, to be operated by a joint venture, will pool innovative resources from universities, enterprises and institutes in both countries, and integrate research and development incubation, industry, services, trade and finance.
In Chengdu, a transport, business and technology hub in southwest China, a global innovation and entrepreneurship fair was held last year, the first of its kind in the country. The event attracted government officials, investors, research institutes and innovative enterprises from 30 countries and regions.
Up to 109 projects from a total of 2,686 participants have changed hands as a result, with transactions totaling 5.32 billion yuan (about 817 million U.S. dollars).
The Canadian astrophysicist and 2015 Nobel laureate Arthur B. McDonald, who attended the second fair held in June, called Chengdu an international city with great appeal. "It's very suitable for start-up companies to invest and grow here," he said.
Moreover, the city hosted the G20 finance ministers and central bank governors meeting on July 23-24, the most high-profile international meeting for Chengdu so far. "Hosting the meeting will further boost the city's reputation globally," said Li Houqiang, head of the Sichuan Provincial Academy of Social Sciences.
Young entrepreneurs competing on a global scale have given much emphasis to international communication. "It brings me a lot of inspiration and broadens my vision," said Yang.
