China Torch Program
The Torch Program is the guidance programme aimed at developing China’s high-tech industry, approved by the State Council in August 1988, and was organized and implemented by the Torch Center. The Torch Plan aims are to implement strategy to invigorate China through science and education, implement the general policy of reform, and exploitation of the advantages and potential of China’s scientific and technological strength. Part of the mandate is also market orientation commercialization promotion of high-tech achievements, industrialization and internationalization based on market orientation.
The Torch Plan focuses on creating an environment for high-tech industrial development, the development of a complete package of high-tech industry development policies and regulations, creating a good support environment, establishing the management system and operational mechanism, opening up funding channels to establish venture capital mechanisms, opening information channels at home and abroad, establishing information networks and developing the long-term planning in line with the objective reality. It is this Torch Plan that has resulted in China’s booming high-tech parks and technology business incubators. At every stage of the development of China science and technology, the coordination and guidance of Torch Center are both essential and strategic – in policy guidance and financial support.