Big credit line for high-tech industries
By Zhu Shenshen |
August 10, 2010, Tuesday
|
Print Edition
Print Edition
FINANCIAL firms will provide more than 100 billion yuan (US$14.7 billion) credit line, supported and encouraged by the Shanghai government, to support the city's nine high-tech industries, the local high-tech regulation commission announced yesterday.
The nine industries, including new energy, biological pharmaceutical, information technology manufacturing, new-energy car, software and IT services, are expected to help the city improve its economy development structure and international competitiveness, according to Ma Jing, chief engineer of the Shanghai Municipal Commission of Economy and Information Technology Development.
"The fund will come from various sources such as private companies, overseas financial firms and banks," said Ma.
In 2009, revenue from the nine industries reached 736.5 billion yuan in Shanghai. The figure will hit 849 billion yuan this year, a 14 percent growth year on year. The investment in the high-tech industries is expected to surpass 50 billion yuan, up 20 percent year on year, according to the commission, the city's top IT and high-tech development regulator.
The big projects of the high-tech industries include solar battery manufacturing equipment production, smart grid industrial base, advanced semiconductor lines, and the Internet of Things industrial park for new technology, Ma revealed.
To attract investment from the central government-controlled companies, the commission has set up a special division to contact and serve the firms, like China Mobile and State Grid Corp.
Chinese carriers, such as China Mobile, China Telecom and China Unicom, have signed up to invest a total of 60 billion yuan in Shanghai within three years until 2011.
The nine industries, including new energy, biological pharmaceutical, information technology manufacturing, new-energy car, software and IT services, are expected to help the city improve its economy development structure and international competitiveness, according to Ma Jing, chief engineer of the Shanghai Municipal Commission of Economy and Information Technology Development.
"The fund will come from various sources such as private companies, overseas financial firms and banks," said Ma.
In 2009, revenue from the nine industries reached 736.5 billion yuan in Shanghai. The figure will hit 849 billion yuan this year, a 14 percent growth year on year. The investment in the high-tech industries is expected to surpass 50 billion yuan, up 20 percent year on year, according to the commission, the city's top IT and high-tech development regulator.
The big projects of the high-tech industries include solar battery manufacturing equipment production, smart grid industrial base, advanced semiconductor lines, and the Internet of Things industrial park for new technology, Ma revealed.
To attract investment from the central government-controlled companies, the commission has set up a special division to contact and serve the firms, like China Mobile and State Grid Corp.
Chinese carriers, such as China Mobile, China Telecom and China Unicom, have signed up to invest a total of 60 billion yuan in Shanghai within three years until 2011.
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