China's first on-line technology market will open on June 10, providing a virtual trade platform for universities, research institutes and enterprises.

Zhejiang Provincial Government, the Ministry of Science and Technology and the State Intellectual Property Office have joined in establishing the website, www.51jishu.com, which links more than 200 well-known universities, research institutes and other websites.

Organizers of the website have promoted about 2,000 technological projects required by enterprises nationwide. A total of 1.12 billion yuan (US$135 million) worth of potential investment can be found on the website.

At a news briefing in Beijing Wednesday afternoon, Mao Guanglie, director of Zhejiang Provincial Department of Science and Technology, said that the local government financially supports the website which is free to any Internet surfer.

The government also encourages technological trading on the net, Mao said.

Many scientists and technologists in east China's Zhejiang Province, the country's new economic powerhouse, realize that their academic achievements should be industrialized and commercialized as soon as possible. Meanwhile, roughly 800 billion yuan (US$96.6 billion) worth of private funds can be invested in projects.

Officials with the ministry said that the website will benefit both investors and owners of technologies.

(People's Daily June 6, 2002)