Using the China Beijing International High-tech Exposition as a platform, China hopes to strengthen international cooperation in the industry.

The international event in Beijing not only showcases the achievements of Chinese high-tech institutions and enterprises but also provides huge business opportunities for domestic and foreign enterprises and investors.

During the opening ceremony of the Seventh China Beijing International High-tech Exposition Friday, Josef Ackerman, chairman of the Institute of International Finance Inc said China's opening up will provide more chances for the international business circle, considering the nation's rapid economic development and its huge population.

Official statistics show that the output value of China's high-tech industry hit 2.75 trillion yuan (US$331.3 billion) last year, 30.8 percent up from 2002.

Meanwhile, the contractual volume of the technology agreements reached 108.47 billion yuan (US$13.07 billion), an increase of 22.7 percent compared with the previous year.

Exhibitions, forums and trading fairs opened Friday in more than 30 convention and exhibition places in the capital city.

In addition to the domestic participants, governmental delegations, professional organizations, world leading enterprises, financial institutions, as well as research and development institutes from 31 foreign nations and regions are participating.

(China Daily May 22, 2004)