In 2009, Shenzhen plans to budget 9.08 billion yuan (up by more than 60 percent compared to 2008) for upgrading the city's industry, according to the Shenzhen Municipal Finance Bureau.

Shenzhen's arrangement of 9.08 billion yuan for this year will be mainly used to support pillar industries such as the high-tech sector, to accelerate the transformation and upgrade of processing trade enterprises, to enhance the technical transformation of advantageous traditional industries, to guide and nurture innovative industries and to promote the construction of industry-intense areas including the Shenzhen fine chemical ecological industrial park, the national bio-industry base and the aerospace science base. The funds will be also used to improve industry structure, and to create a modern city with "high-end, concentrated, headquarter-based and innovative" industry systems.

By People's Daily Online