| China: Finance key to enhancing Sino-Arab technology co-op | |||
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China and Arab states should focus on developing technological finance to establish more technological cooperating platforms rather than increasing governmental investment, vice minister of technology Zhang Laiwu said during the Technology Cooperation Workshop of the second China-Arab States Economic and Trade Forum in Ningxia last week. Zhang said that as technology and finance are the most active elements in terms of productivity, the combination of the two will result in more technological innovations. Zhang, referencing China's hi-tech industrial parks and agriculture technology parks, suggested that China and Arab states should work together to build industrial parks. He also suggested the introduction of a capitals and corporate governance of shared risks and interests to industrialize cooperative technological research. In recent years, Ningxia has set up hundreds of model agricultural farms, where technology and finance jointly play a big role. The vice minister also proposed to establish mutual funds in technology cooperation similar to the seed industry fund which was set up to help develop a more water-efficient agricultural industry.
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