Hengqin TCM industrial park gets provincial status

The Traditional Chinese Medicine Science & Technology Industrial Park of Cooperation Between Guangdong & Macao was named a first-batch provincial sci-tech incubator for Guangdong, Hong Kong, Macao, and Taiwan enterprises on Dec 14. 

Approval followed expert review and examination by the Department of Science & Technology of Guangdong.

A special business service department was considered a key point during the evaluation, according to an official of the Hengqin New Area facility. The department helps with business registrations, applications for dedicated funds and patents, and designation as a High & New-Technology Enterprise (HNTE).

TCM Sci-Tech Industrial Park promotes integrated development of TCM in Macao with domestic and overseas giants in the industry. The effort was the first outcome of the Framework Agreement on Cooperation Between Guangdong & Macao signed in March 2011.

TCM Science & Technology Industrial Park of Cooperation Between Guangdong & Macao [Photo courtesy gd.xinhuanet.com]

Improvements to park infrastructure has brought operations management into accord with standards for national incubators since 2015. The first-phase public service infrastructure was initiated on Sept 27.

Methods of trial management include statistical analysis of operations of businesses in the park for better support.

Also cited were various salons offering interpretations of the latest TCM policies and technology trends as well as several training sessions on HNTE and patent applications.

A spokesman for the industrial park said the recognition lays a foundation for accreditation as a State-level incubator. Next, the park incubating system will be deeply connected to Macao's abundant innovative and entrepreneurial resources.

Also planned is a guidance fund targeted financing for small-and medium-sized enterprises in the park. The fund is still nascent but has support from Hengqin Financial Investment.