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High-tech Industry in Guangdong Gains Rapid Growth
The output value of the high-tech industry in south China's Guangdong Province increased at a rate of 50 percent annually over the past decade, according to an official of the provincial government.
In 1999, the production value of the high-tech sector reached 212.7 billion yuan (about US$25.6 billion) and made up 13. 9 percent of the provincial gross industrial output, said Ma Xianmin, vice director of the Guangdong scientific and technological department.
Exported high-tech products of the province were valued at US$11.83 billion last year, up 17.2 percent from 1998.
Ma attributed the rapid growth to the on-going strategy, "developing Guangdong through science and education", and reform in the scientific system.
As a result of the reform, enterprises undertook scientific and technological innovation, pushing forward commercial application of research achievement.
In addition to government investment, science venture capital, bank loans, enterprise investment and foreign funds have also been introduced into the science investment system, added Ma.
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