Science and Technology Minister Xu Guanhua yesterday emphasized the need to develop internationally competitive high-tech industries and development zones.

To accomplish that goal, a sound climate should be created to attract more talent from home and abroad in the high-tech sector, Xu said.

This has been the strategic goal for the industrialization of new and high technologies in the new era, the minister added.

Xu made the remarks at the National Conference on Industrialization of New and High Technologies in Beijing. The conference also marked the 15th anniversary of China's Torch Programme, which was initiated in 1988 to nurture high-tech industries and upgrade traditional industries.

Statistics from the Ministry of Science and Technology show that from 1991 until 2002, major economic indicators of 53 high-tech development zones in the country grew almost 50 per cent on a year-on-year basis, with an increase of total turnover volume from 8.73 billion yuan (US$1.06 billion) to 1,532.64 billion yuan (US$186.9 billion).

In the meantime, the number of workers employed in high-tech parks surged from 140,000 in 1991 to 3.49 million -- an increase of nearly 25 fold.

Despite the progress, however, the full potential of tremendous asset accumulations has not yet been fully realized, said Xu.

"To upgrade the traditional industry by means of new and high technologies is the focus of the restructuring of the national economy,'' the minister said.

Xu also urged the country's high-tech firms to "go abroad'' to compete in the global market.

Domestic firms should step up their innovations to earn advantages of intellectual property, while integrating themselves with advanced technologies and overseas capital, he said.

Xu also called on domestic high-tech firms to intensify the integration of financing and science and technology, and to improve the environment of investment and financing.

"For this purpose we should set up multiple capital markets, encourage the development of venture investment, and make it a means to drive the industrialization of high technology,'' Xu said.

Over the next 15 to 20 years, the country must step up efforts to transform itself from a big manufacturer to a strong one, the minister urged.

A total of 446 distinguished projects under the Torch Programme, 252 high-tech enterprises and 461 individuals were honoured by the Ministry of Science and Technology at the conference.

Close

Today's Top News		Top National News
+ADB chief: China should be cautious in RMB liberalization ( 2003-09-20) +Flood prevention work in full swing as more rain expected ( 2003-09-20) +Daily SARS reporting resumes ( 2003-09-20) +EU official: EU-China co-operation promising ( 2003-09-20) +Gov't to offer 6b yuan for school refurbishments ( 2003-09-20)		+Guangdong police bust major Mark 6 lottery operation ( 2003-09-20) +Plugging into high-tech ( 2003-09-20) +Flood prevention work in full swing as more rain expected ( 2003-09-20) +Daily SARS reporting resumes ( 2003-09-20) +Swiped national treasure safe, sound ( 2003-09-20)