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The Beijing municipal legislation body is developing a law for
its Zhongguancun High-tech Development Zone, known as China's silicon
valley, to regulate and promote the booming high-tech industry.
The draft of the law, which was announced Wednesday, is ready to
receive suggestions and comments from the public. The formal version
of the law will be issued at a later date.
This is the first time in China for a legislation body to set a
law governing a high-tech development zone.
As prescribed by the law, the Zhongguancun High-tech Development
Zone will have its own policies for attracting new personnel, obtaining
venture capital, protecting copyright. Issues concerning international
cooperation and governmental functions have also been stated in
the law.
Huang Zhimin, deputy secretary-general of the standing committee
of Beijing Municipal People's Congress, said that the high-tech
industry is encountering many new situations and problems in its
growth in China and it is necessary to set a regulation to offer
general solutions for such difficulties.
The law was initiated by 79 delegates at a recent meeting of the
Beijing Municipal People's Congress.
Founded in 1988, Zhongguancun High-tech Development Zone, the first
of its kind in China, plays a major role in the development of high-tech
industries.
(People's Daily 11/03/2000)
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