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)