China to sub­si­dize hi-tech in­dus­trial clus­ters

China Daily (Hong Kong) - - BUSINESS DIGEST -

More than 70 emerg­ing in­dus­trial clus­ters are to re­ceive gov­ern­ment sup­port as China eyes tech­no­log­i­cal in­no­va­tion for its eco­nomic growth. The gov­ern­ment is as­sess­ing 10 clus­ters that high­light high tech­nol­ogy and in­no­va­tion, ac­cord­ing to Eco­nomic In­for­ma­tion, a news­pa­per un­der Xin­hua News Agency. Des­ig­nated clus­ters in­clude new en­ergy, telecom­mu­ni­ca­tions and en­vi­ron­men­tal pro­tec­tion, the re­port said. Each clus­ter will re­ceive gov­ern­ment sub­si­dies of up to 100 mil­lion yuan ($16.4 mil­lion) and pol­icy pref­er­ences, it added, cit­ing of­fi­cials from the Min­istry of Sci­ence and Tech­nol­ogy.

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