Another five year plan

China plans to invest $2.5 billion in high tech research and development projects within the next three to five years, according to the Chinese Ministry of Science and Technology.

China will invest $2.5 billion in 12 key science and technology research and development projects within the next three to five years, according to the Ministry of Science and Technology.

According to the Xinhua News Agency, the projects are expected to help China command a host of cutting-edge technologies in the 21st century, make significant technological breakthroughs and get them industrialised in three to five years.

The projects involve super-scale integrated circuits (ICs) and software, electric vehicles, medicine and herbal medicine modernisation, dairy development and water-saving agriculture.

Research projects on ‘super-scale ICs and software’ and ‘key technological criteria’ are anticipated to break foreign monopolies in some high-tech fields and provide technological support for the development of the information industry.

Projects like the ‘information security and e-government’ and ‘innovative medicine and herbal medicine modernisation’ aim to produce new and advanced industries capable of participating in international competition.

Among the $2.5 billion to be spent during the country’s tenth Five-Year Plan (2001-2005) period, more than $750 million will be allocated fiscally, and $1.75 billion will come from related ministries, local governments and enterprises.

Source: Xinhua News Agency.

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