National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

China urges industry to upgrade technology

(Xinhua)
Updated: 2009-05-06 20:35

BEIJING - China's State Council, or cabinet, Wednesday urged industries to upgrade their technology to boost market confidence and domestic demand.

The State Council said in an executive meeting that it would give "sufficient support" to several industries, including steel, non-ferrous metals, alternative-fuel cars, telecommunication equipment and logistics, to help improve technology.

The government would make a special allocation of 20 billion yuan (about US$2.94 billion) to support technological upgrading, which was expected to attract 460 billion yuan of private-sector investment as well, it said.