Yonghe Park, a sub-park of Beijing's Zhongguancun Science Park, recently signed a strategic agreement with China University Media Union (Chinamu) to cultivate young domestic talents and attract excellent overseas Chinese. The park will also reportedly set up a talent base in Silicon Valley this year.

"The agreement is an important measure to attract young talent and encourage them to start businesses in Beijing's Dongcheng district," said Jia Hongmei, secretary general of Yonghe Park's administrative committee. It allows university students to get trained before graduation and seize business opportunities in youth incubators.

In addition to attracting university graduates, the park is looking to set up a talent base for Dongcheng district in Silicon Valley of the United States.

"The base will help attract talent in high technology and cultural creativity industries to start businesses back in China," said Jia. "The development of emerging businesses like Hutong Idea Factory needs their fresh ideas and international perspectives."

Besides providing preferential policies to bring back overseas talent, ideas and technologies, Dongcheng district will also encourage companies in the park to "go global" for further exchanges and cooperation.

Edited by Chen Zhilin and Michael Thai