The Chinese Academy of Sciences (CAS) announced on October 11 it has made great achievements in promoting the industrialization of high-tech R&D results.

Statistics show that total business volume of CAS-controlled high-tech enterprises amounts to 81.38 billion yuan (about 9.84 million US dollars), together with 3.88 billion yuan (470 million dollars) of tax and over 40,000 job opportunities.

Deng Maicun, CAS deputy secretary-general, said the academy put "Knowledge Creation Project" into practice in 1998. Since then, the CAS has striven to make clear its strategy of industrializing high-tech research results.

Sun Dianyi, an official with the CAS, said the high-tech industrialization drive will contribute to the economic restructuring, economic growth and sustainable development of the country.

(Xinhua News Agency October 12, 2002)