China plans to pour 62.8 billion yuan in investment into the new technology sector by the end of 2010 to support 11 national research programs that are expected to help boost domestic demand, the State Council said at a meeting presided over by Premier Wen Jiabao on May 13.  The government also promulgates policies to support the development of biological technology, aiming to intensify IPR protection and regulate market competition order. 

Central government intends to earmark 32.8 billion yuan this year and 30 billion yuan in 2010.  The investment will be used mainly in the sectors of advanced numerically controlled machine tools, trunk-line aircraft, new-generation broadband wireless mobile communications networks and blockbuster pharmaceuticals. 

On the development of biotech industry, the meeting advocates bold innovation by businesses, strengthen construction of innovation infrastructure of universities and public research institutes to facilitate innovation and commercialization of findings.

(China IP News)