In the nation's economic growth, the significance of technology and the growth of a viable advantage for companies cannot be over emphasized. It is obvious that in many developing and developed countries the higher educational institutions have been a main source of science and technology advancement. Therefore, the effective transfer of technology from higher educational institutions to companies or industry has been a vital concern on the behalf of governments and an appealing research topic on part of academics for more than two decades. This paper provides certain practical guidelines for government and companies concerned. The overall model presented in this paper address the main problem of the factors that affects higher education institutions performance in term of transfer and development of technology in China. A transfer and development of technology case study at Tsinghua University proposes that fruitful practice of transfer and development of technology already exist.

University Science Parks in China were the outcome of commercialization of the Research and Development grants and the proximity of the Higher Education Institutions and enterprise's association. The Chinese government considers University Science Parks as a key ingredient in the nation's inventive system. The continuous success and achievements of the TusPark are no exception. Along with the government backing, TusPark exploits different efficient tactics to encourage Science and Technology marketization, inventive actions, and nation's economic development. However, TusPark also encounters various external and internal institutions; it has fetched its benefits into complete production and developed to the utmost prominent China's University Science Park. The evolution flight of TusPark is exceptional; however, its skills can aid towards the interpretation of the science parks within the progressive and further developing nations in the proliferation's framework. The functional development and progress and, various strengths and challenges of TusPark were reviewed in this paper.