From 2008 to 2010, Guangzhou will invest over RMB1 billion annually to encourage self-innovation, said Mayor Zhang Guangning on August 18th at a meeting on the development of modern industrial structure in the Pearl River Delta.

Zhang introduced that Guangzhou had set a goal to build it into an innovation-oriented city, aimed at creating clusters of hi-tech enterprises with comparative advantages in China by fostering major hi-tech enterprises featuring self-innovation.

Zhang said that realization of the goal depended on achievements in self-innovation. Therefore, massive investment would be poured into hi-tech enterprises to encourage self-innovation in 2008 as well as the coming two years.

In addition, policymaking would give priority to modern industrial structures, thus promoting the development of hi-tech industry. The government would take new measures like publication of categories and priority projects to guide talents to the priority industries in Guangzhou.

Editor: Yan