(Yicai Global) Dec. 25 -- China Shanghai Pilot Free-Trade Zone Lingang New Area will build a global cross-border technology trade center to encourage overseas high-tech firms to come to China and will provide convenience in cross-border technology trade and lure corresponding resources to the area, Lingang announced yesterday.

The center aims to be a trading hub platform which can ply the technology trade, exercise the rights to and protect intellectual property, conduct technology financing, training and exchanges, and pilot testing.

The facility will set up an international technology trade market, create a cross-border technology trade system which meets international standards, provide integrated services such as technology evaluation, listed transactions on exchanges, and over-the-counter matchmaking trades.

The center will offer policy, market and fund supporting services to overseas companies which have novel technologies that are eager to invest in China and facilitate their intellectual property's entry into the country after local incubation.

The hub will also devote itself to ascertaining the technological demands of companies in the Yangtze River Delta region and providing them with global resources to seek and select solutions. It will also benchmark advanced international standards and help them migrate into overseas markets via various methods.

The center also plans to invite many domestic and overseas institutions related to technology transfer and trade to set up offices in Lingang and provide foreign scientists, entrepreneurs and technology projects with whole-process support to enable them to do business in Lingang.

The institution will also form a fund pool for free foreign exchange convertibility to overcome the difficulties in forex conversion in the cross-border technology trade and provide IP transactions with financial services.

Lingang New Area is an industrial development park in southeastern Shanghai, which home to US automaker Tesla's Shanghai factory. China's State Council approved the area as the Shanghai FTZ's new extension in August. It bestows more favorable FTZ policies on companies doing business in it.

Editors: Tang Shihua, Ben Armour