Beijing's prestigious Qinghua University Sunday launched a park where returned Chinese who have studied overseas can start up businesses featuring high and new technologies.

The park is co-sponsored by the authorities of the Zhongguancun Scientific and Technological Zone (ZSTZ).

Located in the ZSTZ core area, the park covers 40,000 square meters. Enterprises in the park expect to have services such as financing, accommodation and property management.

The park will provide each enterprise an initial floor space of 40 square meters and set up a 200-million-yuan (24.1 million US dollars) fund for enterprises.

The ZSTZ will also offer help to enterprises in faster registration, lower fees, financial aid and loan guarantees.

So far returned students have established 1,546 enterprises in Zhongguancun, six times more than in 1999. They account for one tenth of the total new and hi-tech enterprises in Zhongguancun.

(Xinhua News Agency December 16, 2002)