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East China Province Boosts Innovation
East China's Zhejiang Province, which ranks fourth in the country in terms of gross domestic product (GDP), will increase its annual funds for international scientific cooperation and exchanges to 10 million yuan (about 1.2 million U.S. dollars) by 2005.
An official with the provincial government said that the decision is part of the province's effort to boost scientific and technological development.
According to a provincial plan, Zhejiang will establish an innovation system over the next five years and will build an economy based on new and high-tech industries by 2020.
Priority will be given to developing high-tech industrial zones in its coastal cities such as Hangzhou and Ningbo.
More capital will also be allocated to improve several key labs and experimental centers.
The province aims to generate half of its GDP through scientific and technological progress by 2005, compared with 42 percent in 1999.
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