Chinese Equipment Manufacturing Companies Urged to Input More in R&D

Resource from: CBCC Likes:2927

Nov 16,2007

Chinese Equipment Manufacturing Companies Urged to Input More in R&D As Chinese equipment manufacturing technology lags behind international levels for five to 20 years, an expert suggested that enterprises should invest 3% of its sales income, or more, into R&D. Speaking in an international forum held during 2007 China International Industry Fair in Shanghai, Zheng Xinli, Senior Vice President of China Federation of Industrial Economics and Vice Director of Research Office of Policy of the Central Committee of the Communist Party of China, said it was necessary between the gap in equipment manufacturing technology between China and international level was actually widening but not shrinking. Statistics reveal that China imported US$357 billion worth of equipment in 2006, accounting for 45% of the nation's total imports. In recently years, two-thirds of equipment that China invested was still imported. Mr Zheng, therefore, made the above suggestion. He also suggested the Chinese government build up a well planned government sourcing system, improve related import policies as well as provide stronger support to the industry in terms of financial policy.

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