The National Development and Reform Commission has set a 2010 revenue target of US$87.58 billion (RMB600 billion) for Haidianyuan, a Chinese hi-tech incubator in Beijing’s Zhongguancun Science & Technology Garden, China Business News
reported, citing commission vice director Zhang Mao. The NDRC also set a revenue target of RMB1 trillion by 2015, which will earn the government RMB40 billion in tax receipts. The target comes as part of a strategic plan for 12 hi-tech projects in the innovation, informationalization and biology sectors. The Haidianyuan incubator has been involved with 20,000 hi-tech firms over the past 20 years, 500 of which reported more than RMB100 million in revenues last year. Total revenues from all related firms last year reached RMB400 billion and total profits RMB33.38 billion. The Chinese hi-tech industry posted RMB6.3 trillion in revenues in 2007, triple its revenues for 2002 and accounting for 8% of GDP. It exported US$350 billion worth of hi-tech products last year, accounting for 30% of total Chinese exports.