SHANGHAI BETS ON HIGH-TECH INDUSTRY
AsiaInfo Services, November, 1999
AsiaInfo Services 11-22-1999 Shanghai Bets on High-tech Industry SHANGHAI, November 22, AsiaPort -- This metropolis has decided to answer global economic challenges by putting the majority of its fixed assets investment into high and new technology industries over the next three years.
High and new technology industries including telecommunications, biotechnology and new materials, will get 110 billion RMB yuan (US$ 13.25 billion), accounting for 45 percent of the city's total investment of 240 billion RMB yuan (US$ 29 billion) for the 1999-2001 period. The investment is the biggest ever received by the industries, whose share in Shanghai's industrial volume has been expanding every year and is expected to reach 20 percent next year, up from...
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