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China is launching 880 technical transformation projectssupported by state treasury bonds, in an attempt to improve thetechnical level of key industries, according to the State Eco-nomic and Trade Commission. Starting from the second half of 1999, the Chinese Gov-ernment decided to take out part of state treasury bonds in ad-ditional issue each year to serve as discount interest for loansissued to enterprises carrying out technical transformation andupgrading. A total of RMB19. 5 billion(about US $2. 35 bil-lion) has been earmarked from the additional issue of statetreasury bonds in 1999 and 2000 to support the 880 pro-
China is launching 880 technical transformation projectssupported by state treasury bonds, in an attempt to improve the technical level of key industries, according to the State Eco-nomic and Trade Commission. Starting from the second half of 1999, the Chinese Gov-ernment decided to take out part of state treasury bonds in ad-ditional issue each year to serve as discount interest for loansissued to enterprises carrying out technical transformation andupgrading. A total of RMB19. 5 billion (about US $ 2.35 bil-lion) has been earmarked from the additional issue of state Treasury bonds in 1999 and 2000 to support the 880 pro-