Liaoning Province will invest more venture capital in its information
technology (IT) sector to better develop and enhance its position
in global competition.
"We should
vigorously push forward the development and popularization
of the IT industry, which are crucial to China's modernization
drive and future prosperity," said Chen Zhenggao, vice-governor
of the IT and industrial sector of the coastal province.
Chen said he hoped
for more industrialization at Wednesday's opening ceremony
of the new IT company, Liaoning Neusoft Venture Investment
Corporation.
Neusoft Co Ltd
injected 70 million yuan (US$8.4 million) and Liaoning Technology
Venture Capital Co Ltd invested 30 million yuan (US$3.6 million)
in the new firm.
The local government
will invest 200 million yuan (US$24.1 million) annually to
the sector for the next five years to safeguard technological
research and insure development.
"The new company
is the farm land for small and medium-sized enterprises to
grow on. Neusoft has the ability and full confidence to offer
sufficient funds to them," said Liu Jiren, president
of Neusoft Co Ltd.
Liu said venture
capital can be used to select companies as well as enterprises
that develop rapidly and have much potential. Liu said Neusoft
Venture Investment Co will share the sound marketing network
set up by Neusoft Co Ltd.
Chen said the output
value of the IT industry could cover more than 20 per cent
of the industrial sector.
According to 1999
local government statistics, scientific development for the
10th Five-Year Plan (2001-2005) will concentrate on nurturing
high-technology industries and increasing IT industry through
advanced technology.
"Liaoning
should ensure the development of the high-technology sector
increases with a speed of more than 25 per cent every year,"
Chen said.
"To meet the
sector's high speed of development, venture capital is essential
and urgently needed," he said.
(China Daily 03/24/2000)
|
