Members of Beijing's top advisory body have called for the launch of new regulations to standardize and promote the city's agency sector.

An agency is generally an intermediary company that provides professional advice and services, such as accountants, law firms and public relations agencies.

The development of science and technology agencies in Beijing will help promote the city's knowledge-based eco-nomy, concluded a draft proposal of the Beijing Municipal People's Political Consultative Conference yesterday.

The draft proposal calls for the local government to draw up more favourable policies to promote the development of science and technology agencies in the city.

The draft proposal is expected to be submitted to the 26th session of the Ninth Beijing Municipal People's Political Consultative Conference for approval today.

Based on a survey of science and technology agencies, which was conducted by the Economy and Science Committee of the advisory body and four other institutions in September last year, the draft proposal highlights the importance of technology and personnel markets for the city's economic development.

Beijing's technology exchange market ranks one of the country's most dynamic markets, with a contractual volume of 10 billion yuan (US$1.2 billion) last year, covering 21 per cent of the nation's total technology contracts, the survey said.

The development of science and technology agencies has become the city's new economic growth point in recent years, said Zou Zuye, director of the committee.

As an important part of the service industry, the agency sector will greatly promote the development of a market economy, Zou said.

Beijing has promoted the agency sector in recent years, especially focusing on high-tech specific agency services including technology, personnel, consulting, scientific research and financing agencies.

The newly launched 10th Five-Year Plan (2001-05) for Beijing has hailed the development of science and technology agencies as the most important part of the service industry for the next five years.

Although an increasing number of complaints about agencies have been received in recent years, the role agencies play in the market economy cannot be neglected, Zou said.