Feeds

Chinese pledge £75m to turn Shanghai into Silicon Valley

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

  • alert
  • submit to reddit

Intelligent flash storage arrays

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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?
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.