Representatives of Zhejiang Province invited research institutes and universities world-wide to set up their branch units there at a press conference in Beijing.

Jiang Taiwei, director of the province's department of science and technology, said the province urgently needs high-tech specialists and research and development institutions to further propel its economy, which is ranked fourth among China's provinces, municipalities and autonomous regions in terms of volume of GDP.

The province plans to set up at least 50 high-ranking research and development bodies with renowned enterprises and universities from all over the world, said Jiang, and will soon enter into partnership with Tsinghua University to establish a research institute in Zhejiang. "We need to form partnerships with branch institutes in a bid to maintain the fast pace of our economy," said Jiang. "Despite our robust economy, Zhejiang is weak in higher education and research and development."