China will set up an incubation centre in Singapore to help Chinese high-tech enterprises to internationalise and commercialise their technologies, South China Morning Post said. The Torch High Tech Industry Development Centre, the promotion arm of China’s Ministry of Science and Technology, has signed a memorandum of understanding with the Singaporean Economic Development Board to establish the facility. The centre, which will be called the China Innovation Centre for High Technology Enterprises, aims to encourage Chinese enterprises to use Singapore as a launch-pad for overseas expansion and source of venture capital.
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