Help for high-tech firms
1 August 2002
The Chinese government has introduced a new policy designed to promote the use of new- and high-technology by domestic companies, said Caijing magazine. Traditional industries will be encouraged to use more technology and specific sectors such as bioengineering, aerospace, renewable energy and marine industries will be given extra support.
More private equity will be encouraged to support these firms and more industrial investment firms will be established. In addition, the government has drawn up plans to attract more venture capital investment to support high-technology firms.
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