The Zhongguancun administrative committee signed a memorandum of cooperation with the Beijing Securities Regulatory Bureau on Jan 7, and Guo Hong, director of the bureau, said that technological innovation requires capital support. The signing is of great importance in enhancing enterprises' market operation ability and in accelerating the development of the innovation-originated nation.

Wang Jianping, director general of the bureau, said that - during the process of economic restructuring - the requirements of enterprises for investment and financing are unprecedentedly high, and he called for improvement in capital services. Wang also said the bureau will make full use of its advantages in resources to serve high and new technology enterprises in Zhongguancun.

The Zhongguancun administrative committee and the regulatory bureau are committed to increasing their efforts in guiding intermediary organs, carrying out training programs and setting up a database. And the two sides are expected to join hands to improve the supportive services of the Zhongguancun capital markets.

Edited by Chen Zhilin and Niva Whyman