China will allocate 4.8 billion yuan (US$ 615.4 million) in the
2006-2010 period for improving the facilities of the Chinese
Academy of Sciences(CAS),the country's top scientific research
institution.
The National Development and Reform Commission (NDRC) announced
the move Tuesday, noting that the funding aims to narrow the gap
between the academy and its counterparts in developed
countries.
CAS launched a project of innovations in 1998 funded by the
government, and a plan for the third phase of the project has just
been approved by the NDRC, an official with the commission
said.
The newly-allocating funds will support the implementation of
the plan, enhance research conditions for the major sectors
including aero-space, photoelectricity and information sciences and
facilitate innovations in life science, new energy sources and
green industries.
The Chinese government has been increasing investment in
scientific research in recent years to promote sustainable and
sound development of the economy.
(Xinhua News Agency December 20, 2006)