By Li Jing

Eyeing the talent and technology advantages as well as the intellectual environment available in the Tsinghua Science Park, one of China's leading university science parks, a handful of multinational enterprises plan to make full use of its rich resources.

The Tsinghua Science Park entered into a co-operative agreement April 22 with four of the world's top 500 companies - the Stanford University Network (SUN), Schlumberger Corporation, M.I.S. Technology and IT Frontier.

According to the contract, SUN's China Engineering Research Institute and Schlumberger Technology Co. Ltd. will expand their offices in the park, while M.I.S. Technology and IT Frontier will set up their regional R&D centers here.

P&G has already opened its regional R&D institute in the science park, seeking to localize its products and to develop new ones for the parent operation.

"Based on Tsinghua University's large amount of professionals, abundant research materials, advanced laboratories and equipment, as well as good credit favorable for fund raising, the park was planned to act as a high-tech incubator for start-ups, a training center for professionals and a technological application base," said Mei Meng, managing director of the Tsinghua Science Park Development Center.

Moreover, the park will offer investment consulting, and legal, accounting, information, technology transfer, and market listing services.

"The park may also act as a platform for professional information and idea exchanges among various high-tech enterprises which have been regarded as a prerequisite for technology renovation and management upgrading in the high-tech circle," Mei said.

The 25-hectare park's total construction cost is estimated at 3 billion yuan (US$361 million). The building area will come to 690,000 square meters.

Founded in 1994, the Tsinghua Science Park has become one of the leading college science parks in the country.

(4/29/02)