IN BRIEF (Page 12)

Weifang sets up financial town

Weifang, Shandong province, announced in December the establishment of a financial town in Weifang Hi-Tech Industrial Development Zone to support the local financial industry development. Leading financial institutions are invited to come to the town to support this upgrade. Local authorities are aiming for the financial industry to provide more support to the city's overall industrial development. The town will become a financial innovation platform, a research results commercialization platform and a mechanism innovation platform, according to officials.

Innovation base established

Foton Motor Group established an innovation center within its Shandong internet automotive industrial base in November to strengthen its core competitiveness. The company expects the move to accelerate the development of the internet-based vehicle industry development in Weifang, Shandong province. Vehicle sales revenue in the city is set to reach 280 billion yuan ($40.31 billion) in 2025, according to local authorities.

Weichai wins top invention award

An engine control patent that Weichai Power developed in the Weifang Hi-Tech Industrial Development Zone won the WIPO-SIPO Award For Chinese Outstanding Patented Invention and Industrial Design in December. The award, developed by the State Intellectual Property Office of China and the World Intellectual Property Organization in 1989, is the invention sector's top honor in China. The organizations designed the award to reward inventors, designers and patent owners for their special contributions to technology innovation and economic development.

(China Daily 01/09/2017 page12)