The figure will account for over 10 percent of the total investment Shanghai has earmarked for the initial-stage construction of its chemical industrial zone.

A spokesman for the industrial zone said Shanghai encouraged the introduction of the latest production technologies and advanced environmental protection facilities.

He cited the investment by BP, BSFE, Bayer and other world famous petrochemical giants in the zone as examples.

Shanghai will also open environmental protection projects in the zone to overseas investment.

An on-line monitoring system will be put in place in the zone, including installing automatic monitoring devices in each chemical plant where pollutants are likely to be discharged.

The devices would monitor the discharge of pollutants 24 hours a day, the spokesman said.

(Xinhua News Agency August 2, 2002)