Mei Meng, managing director at the development center of the park, said the strategy is to make full use of the unique advantages of the university park and promote internationalization.

"Due to economic recession in some developed nations, venture capitalists have withdrawn their money from the high-tech industries, which put many small and medium-sized companies in a tight spot," Mei said.

Meanwhile, several world-advanced technologies can no longer be put into application due to a shortage of funds or human resources in developed countries.

This could mean that such technologies may be transferred at relatively low prices by the developers letting the buyers reduce development costs.

"The brisk economy of China lured them here to find opportunities, and the Tsinghua Science Park is able to provide what they need," Mei said.

"The Tsinghua name has value on capital involvement and business credit," Mei said.

So far, the park has established long-term co-operation ties with internationally famous counterparts, such as companies in Silicon Valley in the United States, Stanford University, Oxford University, Israel University and the Republic of Korea's Korean University.

This year, four specific high-tech enterprise incubators will be set up for small and medium-sized companies or high-tech start-ups from Japan, South Korea, the European Union and returned Chinese graduates.

Trade talks between Chinese entrepreneurs and US small and medium-sized enterprises will be held at the end of this month, and have already attracted more than 100 companies from the United States.

Founded in August 1994, Tsinghua Science Park has become the home of 235 high-tech enterprises, most of which are small and medium-sized businesses with self-developed technologies.

(China Daily August 27, 2002)