More support for technological innovation

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Source: CCTV.com | 05-07-2009 09:04

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The State Council has announced more support for domestic enterprises to promote technological innovation.

The government will support the restructuring and innovation  of the steel and oil industries, as well as textiles and food.

The State Council meeting, chaired by Premier Wen Jiabao, cited technological innovation as a key measure to deal with the financial crisis. It said the process should go with industry reconstruction, and enhancing management. The government will support the restructuring and innovation of the steel and oil industries, as well as textiles and food. Innovation in clean energy and telecommunications will also be encouraged.

The Central Government will lend 20 billion yuan to support innovative projects, and which it expects to raise about 460 billion worth of social investment.

The meeting pledged to include retired workers from bankrupt state-owned enterprises into the social welfare system this year, and a 42.9 billion yuan central budget will be earmarked to support the move.

Editor:Liu Anqi