Abstract
Zhongguancun Science Park (Zhongguancun) dates back to the “Zhongguancun Electronics Street” of the early 1980s located in Beijing’s Haidian District. Zhongguancun is China’s first national high-tech industrial development zone, national independent innovation demonstration zone, and national talent zone. In addition, Zhongguancun is also an important source of China’s emerging industries of strategic importance, as well as a pilot for scientific and technological system innovation and reforms.
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Notes
- 1.
Official website of Qinhuangdao sub-park: http://www.qetdz.gov.cn/old/qetdz_hdy/index.asp; official website of the Ministry of Science and Technology of the PRC: http://www.most.gov.cn/; official website of Tianjin Binhai sub-park: http://tj.zhaoshang.net/yuanqu/detail/4851; and official website of China High-tech: http://www.chinahightech.com/.
- 2.
“Ten-Hundred-Thousand Project” refers to the implementation of the Zhongguancun National Innovation Demonstration Zone, which was approved by the State Council. The zone aims to develop a number of innovative enterprises with global influence and foster internationally renowned brands. According to requirements from the Beijing Municipal government, the zone supports a number of innovative enterprises and these enterprises will have an estimated future income of one billion RMB, ten billion RMB and one hundred billion RMB over the next three years, thus forming an innovative enterprises community with global influence. For more details on this project, please refer to: http://www.zgc.gov.cn/kjzzcx1/cyfw_2012/sbqgc20101/.
“Gazelle Project” solves the key financing problem of Zhongguancun’s high-tech, small and medium-sized enterprises by improving their financing environment; the project stems was formulated by the Zhongguancun Administrative Commission. For more details on this project, please refer to: http://www.zgc.gov.cn/kjjr/trzzcyfg10/97016.htm.
“Wing-flank Plan” aims to strengthen the Committee’s control guiding guaranty, banking, and other financial institutions in order to provide proper services to medium and small-sized enterprises in the Zhongguancun Demonstration Zone, and effectively solve financing difficulties caused by incomplete credit information and lack of collateral. It is a specific work plan that helps the development of certain small and medium-sized enterprises and aids them in first-time financing. For more details on this project, please refer to: http://www.zgc.gov.cn/kjjr/trzzcyfg10/97017.htm.
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Credit incentive mechanism, risk compensation mechanism, insurance and loan linkage mechanism centered on equity investment, multi-party cooperation mechanism of banking, government and enterprises, phased continuous support mechanism and market selection focus mechanism.
- 4.
Angel investment, venture capital, domestic and overseas listing, agency transfer, secured financing, corporate bonds and trust schemes, mergers and acquisitions, credit loans, credit insurance and trade financing, small loans.
- 5.
Wang Rufang is an ethnic Han Chinese and was born in March 1970 in Jiujiang, Jiangxi Province. Wang holds a doctor’s degree in Economics. He is a professor at Beijing Wuzi University and a Jiusan Society member. Previously, Wang served as the Deputy Director and Director of Beijing Wuzi University’s Graduate School. Wang is currently responsible for scientific and technological financing, and financial and state-owned property supervision. He is also in charge of the committee’s departments of scientific and technological financing, finance, property supervision, and auditing.
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Dong, X., Hu, Y., Yin, W., Kuo, E. (2019). Zhongguancun Policies. In: Zhongguancun Model: Driving the Dual Engines of Science & Technology and Capital . Springer, Singapore. https://doi.org/10.1007/978-981-13-2267-9_4
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DOI: https://doi.org/10.1007/978-981-13-2267-9_4
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