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Home >> Business
UPDATED: 18:37, November 24, 2005
China's technology trade exceeds 130 trillion yuan
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China's technology market reports a trade volume of 133.4 billion yuan in 2004. This is learned from the National Technology Market Work Conference held on Tuesday in Beijing. Enterprises became the biggest buyers and sellers in the market with their technological output and purchase accounting for 56 and 75 per cent of the total market trade amount respectively.

The efficiency of technological contracts implemented was also improved, reports People's Daily on November 24. The latest sampling statistics show that every one-yuan spending on technology will add 6.2-yuan production value, 0.86 yuan profits and 0.36 yuan tax.

According to Ma Songde, Vice Minister of Science and Technology, the contract value in the technology market of the country has an annual growth of more than 15 per cent from 700 million yuan in 1984 to 133.4 billion yuan in 2004. For the moment, more than 60,000 of various technological service and trade institutions are operating across the country with an employment reaching more than 1.1 million.

According to a latest national survey tracking 595 projects in 13 provinces and municipalities in 2005, 78 per cent of them, worth 2.2 billion yuan, have proprietary intellectual property rights. After the implementation of the contracts, there are new added values worth 13.6 billion yuan, additional profits of 1.9 billion yuan, 800 million yuan tax, and 1.2 billion yuan exports.

Under the improvement of market mechanism and the guidance of national industrial policy, a great number of technologies have flowed towards enterprises through technology market. The value of orders for technologies placed by enterprises accounted for 75 percent of the total technology trade in 2004, compared with 56 per cent in 1998. So the innovation capacity for enterprises has been improved.

In return, enterprises' income generated by selling technologies is invested in research and development programs. This has changed the old situation where the government is the only sponsor for scientific and technological research activities. As a result, a sound cycle of enterprises' research and development investment has been formed.

By People's Daily Online


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