(Bai Qiu) It is reported that Guangbo Science & Technology District, measuring 500 mu in the total using area, laid a foundation on Oct. 24th. It symbolizes the promoting of traditional industry and the beginning of second –phase pioneering work, that is, making a plural and large-scale development.

On the foundation laying ceremony, Wang Junping, General manager of Guangbo Group, said that in the next five years the company would invest 250 million RMB to fit for the mew competition and for meeting the need of second-phase development of the company. Guangbo Science & Technology District, measuring 150,000 square meters in the total using area,, will be designed as an international standardized district by world famous designers in home and at abroad. The district will mainly be used to produce superior quality production, such as numerical productions, high-quality neu-material and intellectualized daily necessities, etc. the sales volume is estimated to reach RMB 1.5billon by 2005.

The development scheme of Guangbo Science & Technology District will be divided into two periods, that is, exploiting and construction. In the first period, the area of 250 mu to 300 mu will be used to develop three main projects. First, to reach RMB 150 million in volume of business, Guangbo Group will invest RMB 50 million in developing high-grade stationeries. Second, the Group will invest US $80 million to develop intellectualized daily necessities. Third, the Group will invest more in research and reforming to develop Nami-material. The development of the first period will be completed in August,2003. the sales volume is estimated to reach more than RMB 150 million by 2003.

Ren Dajun, deputy director of Yinzhou District, affirmed that Guangbo’s achievements in holding opportunities, meeting challenges and the confidence of entering new goal. Furthermore, he hopes that Guangbo Group will carry out the construction planning of Guangbo Science & Technology District in the first starting point, high level and high speed.