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China Daily Website

China's 'Silicon Valley' to invest in Guiyang

Updated: 2013-08-29 11:14
By Gao Yuan ( China Daily)

Human resources is one of the strong points of the park and the large numbers of IT-trained personnel are also ready to serve non-Beijing companies, Bai said.

He added that the committee will also help Guiyang-based technology companies raise investment in the capital market.

"Guiyang has a number of companies that are ready to carry out IPOs. We are willing to provide our fund raising platform to them," said Bai.

The partnership is the latest answer to the State Council's policies to boost the slowing economy using the cutting-edge technologies.

China has issued a series of plans to lift the nation's technology level in traditional industries such as manufacturing, agriculture and telecommunications.

Zhongguancun, the biggest and oldest technology zone in China, where more than 20,000 startups and 220 listed IT corporations are located, will be a major driver for the nation's ongoing industrial transformation and upgrading process.

Officials in the zone said Zhongguancun is aiming at 1.6 trillion yuan in revenue by 2015 and hoping to host at least 55 Chinese enterprises listed outside the Chinese mainland.

Zhou Weimin, director of the Beijing Investment Promotion Bureau, said Zhongguancun is looking to shift its major business from manufacturing to innovation. The decision may also release some of the manufacturing outputs to other cities including Guiyang.

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