The defense industry experienced rapid growth last year, with
its annual turnover, industrial value and product revenue
increasing 21.7 percent, 26.8 percent and 26.4 percent respectively
on the previous year, according to the administration
department.
Jin Zhuanglong, the spokesperson for the Commission of Science,
Technology and Industry for National Defense, said at an annual
meeting on Monday that the value of the industry's products for
civil use was 165.6 billion yuan (about US$20 billion) in 2004.
Last year, seven companies in the industry went public, bringing
the total number in the industry to 49, Jin said.
This year the national defense industry will adhere to the
policies of serving both military and civil purposes and entering
the international market by improving its technologies, the
spokesperson said.
(Xinhua News Agency January 25, 2005)