Govt offers funds to pace up innovation in SMEs

21 Jan '08

1 min read

The Ministry of Science and Technology of China, on January 17, presented Textile Industrial Annual Innovation Prize for 2007. Each year the Government commends the people or enterprises who are engaged in any kind of innovations. The undersecretary of Ministry of Science and Technology was present at the ceremony.

According to experts small and middle enterprises (SMEs) are considered to be the backbone of Chinese textile industry. The Government tries to encourage these enterprises to develop new products by honouring new inventions and also offers innovation funds so as to quicken the development of new technologies.

Du YuZhou, the Chairman of China National Textile and Apparel Council (CNTAC), said that the organization has decided to sketch a science and technology development program, which would introduce innovative techniques, materials and equipments to the enterprises in near future.

This would further help in promoting the textile industry to achieve the innovations like energy-saving and abatement technologies in the printing, dyeing and chemical fibre industry.

Fibre2fashion News Desk - China

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