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Shandong to Set up Electronic Giants
East China's Shandong Province will take steps to push local big and profitable electronic enterprises to grow even more so that each will have an annual output value and sales revenue above 10 billion yuan (1.2 billion US dollars), a senior provincial official said.
According to a provincial plan, the province will, over the next five years, focus on development of high-powered computer and peripheral equipment, high-speed wideband net and communication products, high-intelligence home information appliances and new electronic devices and materials.
The province has decided to support such big electronic enterprises as Haier Group, Hisense Group, Tide Group and Orient Electronics, the province's vice governor Han Yuqun said.
Both Haier and Hisense have an annual sales revenue of over 20 billion yuan (2.4 billion US dollars), and Haier has exceeded 40 billion yuan (4.8 billion US dollars).
In recent years, Shandong has adopted a strategic readjustment of industrial structure and invested 2.7 billion yuan (325 million US dollars) to develop electronic and information industries, which has raised its production capacity up to third place from the 10th in the country in 1996.
Han said the provincial government will give these selected enterprises preferential policies in taxes, financing and bank credits.
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