With the general purpose of reinforcing the overall environment for technology innovation and promoting high-tech industrialization, Torch High Technology Industry Development Center (Torch Center) seeks to achieve four major objectives by cooperating with other pertinent authorities at central and local levels.
- To perfect the support system for high-tech industrialization, focusing on promoting indigenous innovation;
- To foster the growth of tech-based SMEs and boost technological innovation in enterprises;
- To promote the development of innovation clusters and advance upgrades in high technologies;
- To mobilize innovative resources including capital, technology and talent to reinforce support for innovation and industrialization.
In 1988, the State Council of China officially approved the implementation of the Torch Program - a plan to develop hi-tech industries in China. As the executor of the program, Torch Center was founded in October 1989, as an independent legal entity, subsidiary to the Ministry of Science and Technology (MOST).
