China to Spend on $2.5 Billion on Research

Twenty-two provinces and municipalities will be involved in the research projects.

by / July 31, 2002
BEIJING (AP) -- China is planning to pump 20 billion yuan ($2.5 billion) into a dozen science and technology projects in the next three to five years, the official Communist party newspaper reported Wednesday.

The research and development projects will be centered around electric vehicles, integrated circuits, herbal medicine modernization, dairy development and water-saving agriculture, the People's Daily said.

The projects are expected to help China "rapidly command a host of cutting-edge technologies in the 21st century, make significant technological breakthroughs and get industrialized in three to five years," the newspaper said, quoting sources from the Ministry of Science and Technology.

The projects, some of which have already been started, involve 22 provinces and municipalities.

Since China's entry into the World Trade Organization last year, top officials have promised to spend money on projects that will encourage the inflow of investment, skills and technology.

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