Chongqing to Shape New High-tech Industrial BaseSouthwest China's Chongqing Municipality has decided to reshape its old industrial base to boost its new high-tech economy.Information engineering, bioengineering and environment protection engineering have been designated as the city's three priority projects in the next five years. Between 2001 and 2005, the annual growth rate of information engineering must be no less than 45 percent. The growth rates of bioengineering and environment protection engineering are expected to be at 30 percent and 45 percent respectively, according to Bao Xuding, mayor of the city. By 2005, at least 60 percent of the city's gross value of industrial output will come from new and high-tech industry, Bao said. Output value made by high-tech products will be no less than 20 percent. Production value from technically upgraded traditional industries such as metallurgy, machinery, light industry and textile industry will exceed 40 percent. To carry out this ambitions plan, Chongqing has introduced a series of preferential policies. It plans to earmark 200 million yuan (about 24.1 million U.S. dollars) to regroup the city's risk investment companies, to speed up the construction of intermediary service system and to simplify the procedures related to administrative examination and approval. Being a centrally-administered city along the upper reaches of the Yangtze River, Chongqing has witnessed an annual growth of 30 percent in the output value of its new high-tech industry between 1998 and 2000. |
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