Authoritative sources told lately technological upgrading and development centering on a phalanx of backbone industrial enterprises to a cost of 10 billion yuan (US$1.21 billion) have got under way in Beijing.

Since the 9th Five-year Plan (1996-2000), an investment amount of 32.7 billion yuan (US$3.95 billion) has already been used on a wide range of technological pursuits and these have been up to over 120 key industrial undertakings having been technologically renovated or upgraded. In 2001, Beijing achieved a total of 12.3 billion yuan (US$1.49 billion) of industrial investment for developing production, including 7.1 billion yuan (US$857.53 million) for technological upgrading.

Representative is Legend being run as the largest PC manufacturer with 270 million yuan (US$32.61 million) of investment made and an annual capacity of 2 million PCs put out in China. Beijing Yanjing Beer Group has been helped in a year's time with sales revenue of 270 million yuan (US$ 32.61 million), a profit of 48.50 million (US$5.86 million) and 25 million yuan (US$3.02 million) of taxes turned to the state from a cost of 136 million yuan (US$16.43 million) made. Similar also is the case of Yanshan Petrochemical. For a "660,000t ethylene renovating item" projected at a cost of 3.45 billion yuan (US$416.69 million) during a year's time, it is to be honored estimably with a sales income of 2.59 billion yuan (US$312.82 million), 470 million yuan (US$56.77 million) of added profit and a new tax amount of 220 million yuan (US$26.57 million) to be reaped. By now, these enterprises have with an economic strength been among those with a competitive force placed atop in China.

It is learned ten large hi-tech industrial bases along with ten key technological renovating items will be built and there will be brought into being an integrated advanced industrial chain and corporate supporting system spearheading the development of new and high technologies in Beijing. People will be assured of a new spectacle representing the fine prospects of electronics, IT, telecommunications, auto manufacture and new equipment, bioengineering and pharmacology, petrochemical and new materials and photosensitive, electronic and machine manufacture to be developed in Beijing.

(People's Daily May 14, 2002)