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China Imports Advanced Technology Worth 70 Billion Dollars in Past Five Years

Posted on: Sunday, 29 January 2006, 09:00 CST

China imports advanced technology worth 70 billion dollars in past five years

BEIJING, Jan. 29 (Xinhua) -- During the 10th Five-Year Plan period (2001-2005), China imported advanced technology worth 70 billion U.S. dollars, according to sources with the Ministry of Commerce.

The figure accounts for about 30 percent of China's total technology import since the start of reform and opening-up at the end of 1970s, the ministry said.

Thanks for such technology importation, China's technological level and production capacity in power, metallurgy and petrochemical industry have been lifted up remarkably, the ministry said.

China signed a total of 9,902 technology import contracts in 2005, up 15.1 percent year on year, according to the ministry.

The contracted volume was amounted to 19.05 billion U.S. dollars, up 37.5 percent year on year, 11.83 billion U.S. dollars of which were technology fees, accounting for 62.1 percent.

In 2005, the European Union became the first source for China's technology import, which was followed by Japan and the United States.

China signed technology import contracts worth 9.07 billion U.S. dollars with the European Union, up 46.6 percent. China imported technology worth 3.85 and 3.4 billion U.S. dollars from Japan and the United States in 2005.

Source: Xinhua News Agency - CEIS

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