Beijing banks on hi-tech hopes

Beijing is to harness the latest scientific and technological advances in its universities and research institutes to serve economic growth.

The Chinese capital plans to switch from a labour-intensive model of economic development to one that is resources-intensive. Beijing vice mayor Lu Yucheng said the transfer of high-tech research results from universities and research institutes to industry is urgent.

Speaking at a recent symposium sponsored by the Beijing Economic and Technological Development Area, Mr Lu said the municipal government is to designate a piece of land as a base for joint development between the BDA and universities and research institutes.

Beijing leaders are hoping that a highly developed high-tech industry and service sectors will lead the city's economic growth, and in such a way that will befit Beijing's status as the nation's cultural, educational and research centre.

The capital is pushing ahead with economic restructuring and industrial renovation. Traditional industries are to be revamped with new technology, and new industries are being promoted.

Overseas capital is to be diverted to the high-tech sector, technical renovation of low efficiency enterprises and to infrastructure and residential building construction.

The municipal government says a modern enterprise system is to be established by the end of this century in most state-owned enterprises, which will be facing fierce market competition.

Beijing anticipates an economic growth rate of 12.6 per cent this year, with a gross domestic product reaching around 139.8 billion yuan, a figure which has quadrupled since 1980.

Presidents and leading officials of more than ten universities, including Beijing and Qinghua have expressed a strong desire to participate with the municipal government and the BDA.

There are 67 universities and 400 research institutes in Beijing.