China's capital of Beijing recently announced plans to build ten science-technology bases over the next few years to help the municipality's economy maintain steady and rapid economic development.

The ten hi-tech bases, all similar to the Zhongguancun "Chinese Silicon Valley" Sci-tech Park in northwestern Beijing, will play a crucial role Beijing's hosting of the 2008 Olympic Games, said a municipal official attending the Beijing Technology Innovation Conference on September 25.

The official added that in preparing for the 2008 Olympics, all the city's enterprises would undergo thorough redirection and be encouraged to manufacture more Olympics-related products in a bid to provide support for the mammoth world sports gala.

According to the official, by the year 2005, Beijing wants to foster five large-scale companies with net annual sales volumes surpassing 10 billion yuan (US$1.2 billion) each and 100 large enterprises whose annual sales incomes can top one billion yuan (US$12.1 million) each.

(China Daily 09/26/2001)