Feeds

Chinese pledge £75m to turn Shanghai into Silicon Valley

Hi-tech zone to focus on on Net, e-commerce

  • alert
  • submit to reddit

Security for virtualized datacentres

The Chinese are to spend £75 million on re-creating Silicon Valley in their own back yard. Yesterday, China set up the venture capital fund to make Shanghai its IT hub. The cash will be used to assist Internet and IT start-ups. It was thought to have the support of Jiang Mianheng, oldest son of president Jiang Zemin and head of Shanghai's IT office, according to today's Financial Times. The new companies will also be able to take advantage of China's upcoming membership of the World Trade Organisation and forge joint deals with foreign business. "The purpose is to create a Silicon Valley in Shanghai," said Wang Boming, the city council's executive vice president. "The Internet will be a major investment target –- Internet content providers and e-commerce." Several local firms linked to city government will manage parts of the fund, including the Shanghai Venture Capital Corp and Shanghai Industrial. And judging by the number of sex-starved IT bachelors in the real Silicon Valley, this creation could be just what China needs to keep the population explosion down. ®

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.