Shanghai Pioneer Parks first choice of returned Chinese students
November 5, 2019 Category China News Round-up, Weekly
China Overseas Talent Pioneer Parks in Shanghai have become the first choice for Chinese people who have finished their studies overseas and want to start businesses in the city. The 11 parks around Shanghai have incubated more than 3,200 start-ups in the past 25 years, with another 800 or so being incubated, according to Zhu Yinghua, Director of the Returned Chinese Talent Management Division of the Shanghai Human Resources and Social Security Bureau, speaking at an event marking the 25th anniversary of the parks. By the end of last year, more than 160,000 returned Chinese had come to work and run businesses in Shanghai. About 90% of them have master’s or doctoral degrees.
They have created over 5,300 companies in Shanghai, with more than USD800 million in registered capital. More than 3,200 were incubated in 39 incubators in the city’s pioneer parks with 35 of them listed in China and 10 listed overseas. Fu Jianlin, Chairman of the Shanghai E Bond Polymer Co, was born in Beijing but studied at a Shanghai university in the 1980s. He later studied at the University of Miami in the U.S. and worked for Belzona, a global designer and manufacturer of repair composite materials and industrial protective coatings, for about 10 years. He decided to return to Shanghai in 2004 and started his company which sold Belzona products but now has become an independent developer of high polymer repair composites and protective coatings for industrial machinery, breaking the monopoly of foreign companies in the area. Having checked out ordinary incubators and also overseas talent pioneer parks in Pudong’s Zhangjiang and Yangpu district, he said the latter had provided him with more accurate guidance and opportunities, the Shanghai Daily reports.
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