Economy

China names another 20 innovation bases to boost trade

(Xinhua)
Updated: 2010-01-12 19:00

BEIJING: China's government Tuesday designated another 20 industrial bases as export-oriented innovation bases to boost exports of technology products and improve global competitiveness.

Jointly authorized by the Ministry of Commerce (MOC) and the Ministry of Science and Technology (MOST), the innovation bases will receive help from the ministries in research and development funding, personnel training and business information, an official with the MOC told Xinhua.

The new bases bring to 58 the number designated since 2006 as part of an effort to boost foreign trade through technology and innovation.

The bases, mostly hi-tech development zones and industrial parks, have covered emerging industries like information technology, biopharmaceuticals, equipment manufacturing, new materials, new energy resources and optical-mechatronics engineering.

Customs statistics show exports of mechanical and electrical products last month soared 26.9 percent year on year to US$78.05 billion. Exports of those products last year amounted to US$713.1 billion, accounting for 59.3 percent of the nation's total foreign trade volume.