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New materials lab planned
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A PANEL of specialists recently approved a high-tech project that aims at promoting the nation's materials industry after strict assessments, setting the stage for the creation of a new materials manufacturing centre.
The establishment of the high-tech centre is being sponsored by SZ Chang Yuan New Materials Company Ltd, a high-tech firm whose majority stake is held by the Hong Kong conglomerate run by magnate Li Kai-shing.
Experts point out Li Ka-shing's Tom.com conducted massive takeovers on the Chinese mainland last year and at the beginning of 2001, it began moving into the high-tech field. This shift signifies the new investment priority of Li's business group from real estate and urban businesses to high-tech industries.
New materials hold spectacular potential, and can be widely applied to scientific fields like electronics, electric power, aviation and navigation.
So far Chang Yuan New Materials has set up a research and development centre for high molecule materials in Shanghai. It is reported that 35 million yuan (US$4.2 million) will be invested in its SZ project, which the company plans to build into a national-level key laboratory by 2005.
(Alfred Zhang)
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