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)
