Special Supplement: Guangzhou looks to further hi-tech in development

GUANGZHOU: With all its achievements in hi-tech industrial development and growth of the private-sector economy, this south China city is redoubling efforts to become innovation-based.

One of the municipal authority's strategies is to provide a large budget for the local enterprises' independent innovation and hi-tech development.

According to a regulation on the promotion of independent innovation and hi-tech industrial development hammered out earlier this year, the city will budget over 1 billion yuan annually from 2008 to 2010 to turn "made in Guangzhou" into "created in Guangzhou".