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China Launches 100 Hi-tech Industrial Projects
China's State Development Planning Commission (SDPC) held a ceremony to award certificates to 100 outstanding hi-tech industrial projects in Beijing Monday.
The showcase hi-tech projects form a major part of the government's plan for hi-tech development in the next five years, drafted by the SDPC.
In the last two years, China has arranged for over 500 projects of this kind, of which over 130 are expected to be put into production by the end of this year.
The over 500 projects attracted 51.7 billion yuan investment, including governmental funding of 6.05 billion yuan.
These projects are expected to add 85.4 billion yuan to industrial and agricultural output of the country every year. They are expected to earn 16 billion yuan in profit and pay 7.8 billion yuan in taxes to the government annually, the SDPC said.
Official figures showed that China's total production value of the hi-tech industry soared to 1,910 billion yuan in 2000, compared with 1,310 billion yuan in 1998, with the average growth rate of 20.75 percent on a year-on-year basis.
The SDPC said that in 2000 the export of hi-tech products accounted for 14.9 percent of the total export of industrial products, rising by 2.5 percentage points over 1998.
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