The China-UK Cambridge Technology Venture Park Co Ltd was officially launched in Guangzhou, capital of South China’s Guangdong Province, yesterday, a move which will smooth the way for Chinese firms to establish investment projects in Great Britain.

The firm, headquartered in Guangzhou, will be responsible for the construction of the China-UK Cambridge Venture Park, a scientific cooperation project between the Chinese and British governments, in Cambridge.

The China-UK Cambridge Venture Park is one of the few overseas venture parks permitted by the Ministry and Science and Technology.

The company will assist Chinese companies, especially high-tech firms, to invest in or promote their products and research and development in the UK and throughout Europe.

And it will help Chinese high-tech enterprises build up their global brand reputation and access markets in the UK and throughout Europe, while raising funds and introducing advanced technologies as well as intelligence into China, according to Cai Gangqiang, director-general of the Guangzhou Science and Technology Bureau.

The company will offer consultation services to Chinese enterprises ranging from venue selection, business, training, law, finance and technology to human resources.

He said that the Guangzhou municipal authorities will do their utmost to support the company and Chinese enterprises to the venture park.

Chris Wood, British consul-general in Guangzhou, considered the operation of the company timely, saying the facility will serve as an example and inspiration for further cooperation between British and Chinese enterprises in the future.

(China Daily November 10, 2004)