Private Hi-Tech Firms Back Beijing Economy

Private hi-tech enterprises in China's capital city have become the pillar of economy, according to a gathering to celebrate the 20th anniversary for the founding of non-government hi-tech enterprises in Beijing.

The overall income of the enterprises from technology, industry and trade services reached 110 billion yuan (US$13.25 billion), while the industrial output value of the enterprises was about 60 billion yuan (US$7.23 billion) in 1999, an average of 48 percent up in the past eight years, according to an expert.

The first non-governmental hi-tech enterprises was set up 20 years ago in Zhongguancun which now enjoys fame from home and abroad and the leading enterprises include Legend Corp and Founder Corp.

Since then non-governmental hi-tech enterprises have grown to more than 10,000 with 300,000 employees in the capital.

Hu Qili and Wan Guoquan, vice chairman of the National Committee of Chinese People's Political Consultative Conference, and Liu Qi, Beijing mayor, attended the celebration. They awarded more than 100 outstanding entrepreneurs who achieved success in non-governmental hi-tech sector.

(Xinhua 10/23/2000)

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