"The target we have set in the 10th Five-Year Plan (2001-05) are to use science and technology to propel economic development and to integrate tradition with the new trends in city development to build Nanjing into a large modern international city," Luo said.

A city blessed with rich cultural traditions and a solid industrial and manufacturing base, Nanjing has made remarkable social and economic progress in the past 10 years, especially during the Ninth Five-Year Plan period, implemented between 1996 and 2000. The city now ranks among the fastest developing cities in the country.

Official figures indicate its gross domestic product (GDP) has increased at an annual rate of 12 percent in the past five years, reaching 100 billion yuan (US$12 billion) by the end of last year, when its per capita GDP was 18,500 yuan (US$2,229).

However, Luo acknowledged the city is still lagging behind Suzhou and Wuxi, two southern cities in the province.

Nanjing will make strenuous efforts to catch up in the utilization of advanced science and technology and the renovation of traditional industries, Luo said.

In a knowledge-based economy, science and technology are of central importance, and the prosperity of high-tech industries is crucial to sustainable development, Luo said.

The successful economic development of the past five years also owes a lot to the steady growth of the export-oriented economy, the vice-mayor said.

The overall development plan for the next five years depends on the municipal government working to expand the export-oriented economy to lure more overseas capital for the modernization of the city, Luo said.

Nanjing will take advantage of the sixth World Chinese Entrepreneurs Convention, which will be held in Nanjing in September, to attract more overseas investment into the city, he said.

In recent years, overseas Chinese entrepreneurs have invested some 37 billion yuan (US$4.5 billion) in the Chinese mainland, accounting for roughly three-fifths of the total overseas investment. In Nanjing alone, over 3,000 overseas entrepreneurs have invested in various economic sectors, which has greatly accelerated the quick growth of the local economy.

More overseas funds will be channeled into high-tech industries and the establishment of research and development institutions in Nanjing, the vice-mayor said.

At the same time, the municipal government will work consistently to protect the environment while the economy develops.

It is important for Nanjing, which was the capital of several ancient dynasties and has an abundance of cultural relics and places of historical interests, to preserve its cultural heritage while developing the economy, he said.

A meticulous plan has been drawn up to guide the city's development and the efforts have paid off, he added.

The city now boasts the best-preserved ancient city wall in the country, and its tree-arched streets are spectacular scene.

About 43 percent of the city's total area is covered with trees and grass.

The well-preserved environment has in turn promoted a flourishing tourism industry, which has become a new growth point for the city's economy, yielding a considerably large revenue each year, Luo said.

(China Daily 02/15/2001)