Sources from the organizing committee of the sixth session of China Beijing International High-Tech Expo revealed yesterday that project promotion will unfold during the event, held from September 12 to 15 in the capital.

So far, more than 10,000 project backers in such areas as science and technology, financial assets, as well as economic and trade cooperation have been asked to participate. They come from 30 provinces, municipalities and autonomous regions.

"The exposition will create a platform for high-tech exchange and cooperation, and openness, fairness and transparency are to be guaranteed for private and overseas investors," said Lu Hao, Beijing vice-mayor.

Meanwhile, the promotion mode will go beyond specific trade talks to combine with activities, involving exhibitions, forums and specialized communications on large scales and at multi-levels.

As the spokesman of the organizing committee said, for the first time, urban infrastructure and public utilities construction projects that involve large investments will be introduced.

In the meantime, Beijing's urban development areas will promote 325 projects with a total investment of US$16 billion, seeking overseas capital participation.

"In addition, Huarong-CTEE (China Zhongguancun Technology and Equity Exchange) Project Promotion for the Financial-Asset Supermarket will be held for the first time during the exposition," according to the spokesman.

CTEE works in conjunction with some key domestic financial institutions, including China Huarong Asset Management Corporation, the Orient Group, China Cinda Asset Management Corporation, and China Merchants Bank, putting forward various financial products amounting to 20 billion yuan (US$2.41 billion).

Chen Jian, a researcher with Beijing government's policy study office, said the capital bottleneck restraining the development of high-tech enterprises has attracted great attention from government, experts and insiders.

"The activity further highlights the close relations between financial service and progress of high-tech industries, and it is expected to explore a practical and efficient way to solve the bottleneck problem," said Chen.

(China Daily September 4, 2003)