The Chinese capital of Beijing began to implement a series of new regulations on Friday to open wider its technology market.
Fan Boyuan, director of the Beijing Science and Technology Committee, said the regulations would apply to all trade parties entering the market, including foreigners.
The regulations set rules for all activities conducted in Beijing's technology market, such as technology development and transfer, and technology consultations and services, Fan said.
Trade in Beijing's technology market currently accounts for about one quarter of the country's total, sources say.
The volume of contracted trade had increased from 3.718 billion yuan (about US$448 million) in 1994 to 19.119 billion yuan (US$2.31 billion) in 2001, rising by about 10 percent each year, according to statistics.
"Foreign research institutions have been a major reason for the surge in Beijing's technology trade," said Lin Geng, director of the Beijing technology market.
In 2001, trade contracted by foreign technological research institutions was worth 2.659 billion yuan (US$312 million), accounting for 13.92 percent of the city's total contracted trade.
All trade projects involve advanced technologies from Motorola, P&G, Siemens and other high-profile foreign companies.
The Beijing market mainly deals in electronic technologies, bioengineering and new medicine, new materials and other advanced technologies.
To date, there are over 3,900 technology sellers and 150 trade agencies on the Beijing market, according to sources.
( November 4, 2002)
