Hefei issues new policies for overseas Chinese ventures

Doctors from overseas universities visit Anhui (Hefei) Qiaomengyuan in Hefei National High-tech Industry Development Zone on invitation on Oct 17, 2017. [Photo from WeChat account hefeigaoxinfabu]

Anhui (Hefei) Qiaomengyuan -- the 13th national overseas-Chinese-invested industrial cluster -- announced new innovation and entrepreneurship policies for overseas Chinese at a press conference on Sept 29.

The industrial cluster will help overseas Chinese ventures to develop businesses there by giving support with start-up capital, rent subsidies and talent introduction, among other things.

According to the new policies, the start-up capital for a high-tech project developed by overseas Chinese in the industrial cluster is up to 200,000 yuan ($28,117).

Overseas Chinese ventures that use designated buildings will enjoy subsidies covering all the rent for three years -- a great reduction in operating costs.

To promote technology innovation, overseas Chinese ventures that patent inventions will be awarded for their innovative achievements.

The policies also encourage the establishment of technology innovation incubators and engagement in the integrated circuits industry and the recruitment of high-caliber personnel.

Wang Huachen, vice director of the Overseas Chinese Affairs Office of the Hefei Municipal People's Government, said Anhui (Hefei) Qiaomengyuan has proved to be attractive for overseas Chinese. That's because of its ability to develop cutting-edge technologies, thanks to resources from local universities and institutes.

"To date, it has gathered more than 400 overseas Chinese-invested enterprises, incubated eight listed scientific and technological companies and attracted more than 3,000 overseas high-caliber personnel and overseas students," Wang said.

He said that this had helped promote the rapid development of high-tech industries in areas such as artificial intelligence, quantum communications and integrated circuits.