IN BRIEF (Page 12)

Businesses Listed

Weichai Power and Shengrui Transmission Co in the Weifang Hi-Tech Industrial Development Zone were listed among the first batch of 15 pilot businesses to promote innovation in Shandong province. The innovation pilot business selection program was launched by the Shandong provincial government and aims to enhance businesses' innovation capacity and promote industrial upgrade and transformation. The Shandong government will give more support in the form of resources and policies to those listed companies.

Share Purchase

GoerTek, an acoustics company in the Weifang Hi-Tech Industrial Development Zone, purchased a 9.8 percent share from Kopin Corporation, a developer of innovative wearable computing technologies and solutions, in January to strengthen its position in sectors such as battery technology and virtual reality. The total investment will be $23.85 million. The partnership with Kopin will enable GoerTek to provide customers and partners with cutting-edge technology and products for better performance and designs in the fast-growing wearable electronics market, according to GoerTek.

Pilot Zone Named

Weifang Hi-Tech Industrial Development Zone has obtained approvals from the State Intellectual Property Office to be listed among 16 national intellectual property rights (IPR) demonstration pilot zones. The development zone has reported significant progress in IPR protection and management after it passed appraisal tests to be a national IPR pilot zone in 2013. The semiconductor luminescence and non-traditional powered machinery industries have gained support from national-level and provincial-level governments to promote IPR management. Eighteen companies in the zone, including Weichai Power and GoerTek, have promoted IPR management standardization work. Seven of the companies have obtained official recognition from authorities.

(China Daily 03/07/2017 page12)