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The municipal government of Beijing is encouraging international companies to set up research and development (R&D) centers in Beijing.
A newly-published set of regulations to this effect will take effect on October 1, to replace one issued three years ago.
All institutions and individuals from home and overseas will be granted equal status with regard to establishing their own R&D centers, explained Wang Jun, an official from the municipal commission on science and technology, who spoke at a news briefing on Thursday.
Those who establish R&D centers in Beijing may benefit from preferential policies with regard to foreign currency and taxation, Wang said.
According to official figures, the city now has over 500 R&D centers of different types, including 45 established by multinationals.
(Xinhua News Agency September 27, 2002)
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