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Electronic Development Fund Provides Investments for China's Electronic Information Industry
Since the Electronic Development Fund was set up fourteen years ago, it has provided much-needed investments for China's electronics and information industries. By the end of 1999, it had invested 1.8 billion yuan to promote the development of China's electronics and information industries.
The fund receives an annual stipend from the state to support the research and development and production of integrated circuits, computers and software products.
In a report of the Electronic Development Fund's eighth and ninth "Five-year Plans" given at an IT industry investment strategy seminar Tuesday, Ministry of Information Industry Vice Minister Qu Weizhi said the during the eighth and ninth "Five-year Plans", the Electronic Development Fund invested 1.42 billion yuan into 319 projects. The electronics and information industry's system integration and appliances, industrialization of the fruits of scientific research and the research and development of new products have all received support from the fund.
Mrs. Qu said that the Electronic Development Fund has raised the overall level of China's electronics and information industries, its gross production value has gone from 88.62 billion yuan in 1991 to 778.21 billion yuan in 1999, a 7.78-time increase.
The Electronic Development Fund was established in 1986.
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