Tianjin Hi-Tech Holding Group Co., set up in 2006, is responsible for the state-owned assets in the Tianjin Binhai Hi-Tech Industrial Development Area, including land development and investment promotion of the 12 square kilometre Huayuan S&T Park, the development and construction of Binhai S&T Park, research and development, risk investment, the incubation of high-tech enterprises and the cultivation of high-tech enterprises and products with independent intellectual rights.