Guangdong Special: Guangdong earmarks 250 bn yuan for industrial renaissance

GUANGZHOU: Guangdong is set to invest 250 billion yuan in technological renovation and innovation over the next three years.

This unprecedented budget is expected to accelerate the southern coastal region's industrial upgrade, boost the development of its high-end industries, nurture its emerging business sectors and further develop its industrial clusters. The plans were announced by Li Xinghua, director of the province's science and technology department, at a recent conference aimed at highlighting Guangdong's technological renovation and innovation initiatives.

Addressing the conference, he said: "The province aims to achieve an industrial yield of 150,000 yuan per capita by the year 2012. We also plan to have between three and five industrial clusters with an annual industrial output in excess of 100 billion yuan by that time."