According to a recent meeting by the State Council, China plans to spend 62.8 billion Renminbi yuan in investment into the new technology sector by the end of 2010 to support 11 national research programs.. The meeting also approved Policies in promoting the development of biological industry.
At the meeting, central government intends to arrange 32.8 billion Renminbi yuan this year and 30 billion Renminbi yuan in 2010. The investment will be used mainly in the sectors of advanced numerically controlled machine tools, trunk-line aircraft, new-generation broadband wireless mobile communications networks and research of new pharmaceuticals.
In terms of the biotech industry, the meeting calls on independent innovations, construction of innovation infrastructure of universities and public research institutes and facilitation of innovation and commercialization of those new innovations.
