China Business

Aug 10, 2006

Technology imports up 56.5%

BEIJING - China signed almost 6,400 technology import contracts worth more than US$14.8 billion in the first seven months of 2006, up 56.5% year-on-year, according to the Commerce Ministry.

Technological transfer fees included in the contracts were valued at just over $9.1 billion, according to a ministry report quoted by Xinhua-run Shanghai Securities News.

The European Union is still the number-one technology exporter to China, followed by Japan and the United States, according to the report.

China signed almost $6.3 billion worth of technology import

contracts with the EU in the first seven months, a rise of 37.4%.

Licensing of "proprietary technology" grew 62.2% year-on-year to $4.76 billion.

During the 10th Five-Year Plan period (2001-2005), China imported advanced technology worth $70 billion, according to sources in the ministry.

These technology imports have spurred a remarkable improvement in China's technological level and its production capacity, particularly in the power, metallurgy and petrochemical industries.

(Asia Pulse/XIC)

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