Changsha, capital of central China's Hunan Province, would contribute 10 million yuan (US$ 1.2 million ) each year for high-tech business projects launched by overseas-trained Chinese professionals in the city.

Local officials say that was part of the preferential treatment made public at a gathering of over 100 Chinese professionals from the United States, Japan, Canada, Germany and other countries or regions, where they work or study.

An industrial park has been built especially for overseas- trained professionals to start their high-tech business, where investors are expected to enjoy preferential treatment, policies and services ranging from cheaper land and better infrastructure.

Most of the professionals have doctorate degrees, and some of them are in Changsha seeking investment opportunities for patented technologies or scientific achievements, involving biotechnology, genetic engineering, electronics and information technology and nanometer-scale material.

(Xinhua 06/14/2001)