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Paper Industry to Utilize Foreign Technologies
China will spend US$200 million to upgrade its paper making industry by introducing foreign technologies.
CNTIC Trading Co Ltd, a listed company formed by the China National Technology Import and Export Corporation, signed a technology transfer agreement with eight overseas companies on November 8.
Money raised from the issue of State Treasury Bonds will be used to pay for the transfer. This is the first time since the 1980s that China has invested such a large sum of money in this sector.
According to the agreement, nine modern technologies relating to the manufacture of paper making machines will be transferred to China, four of which are key in this field. Some of the technologies will come to China for the first time.
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