China allots $9.2b on key technology R&D
China is to back eleven national research programs with at least 62 billion yuan ($9.2 billion) over the next one and a half years to achieve breakthroughs in key technological development. Areas covered by the programs included advanced controlled machine tools, trunk-line aircrafts, new-generation broadband wireless mobile communication networks, and high-end central processing units and software.
Provincial Government Works with China Mobile in Investment
According to an agreement signed between the provincial government and China Mobile, 80 billion RMB will be invested into Guangdong over the next 5 years. The investment will cover ten major projects and supply 200,000 jobs. What's more, in 5 years, Guangzhou is scheduled to have a more comprehensive communications network combining 3G telecommunications and digital TV technology. A newly-launched program called "Guangzhou Develops into an Information City" was recently issued by the government, saying that by 2012, Guangzhou's information development index is to increase by 50% from that of 2008.
(resource from telecom.chinabyte.com)
China Reports Rise in Overseas Contracted Projects in First Four Months
According to the Ministry of Commerce, Chinese companies reported almost 18 billion U.S. dollars rise in the business volume of overseas-contracted projects in the first four months of the year, that's a 36% increase compared to the same period last year. China ends with an accumulative business volume of 280.9 billion U.S. dollars in overseas-contracted projects and an accumulative contract volume of 478.7 billion U.S. dollars by the end of April 2009.
HKEx Q1 profit down 49%
The Hong Kong Exchanges and Clearing saw a 49% year-on-year drop in profits attributable to shareholders in the first quarter of this year. According to first quarter results, HKEx recorded an income of 1.34 billion HK dollars (173.08 million U.S. dollars), down 41% year-on-year while operating expenses fell 7% to 354.4 million HK dollars (45.78 million U.S. dollars).
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