C-Cube Message Board - Msg: 2963195

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Technology Stocks : C-Cube

CUBE 36.52

+0.3%

Dec 12 9:30 AM EST

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To: CPAMarty who wrote (26641)	12/14/1997 6:07:00 PM
From: John Rieman	of 50808

Changhong(Cube customer) to get Chinese government grants.................................. asiansources.com Industry news China's TV giant receives government aid for R&D CHINA: Along with six other companies, China's biggest color TV maker, Sichuan Changhong Electronics Group Corp., will be receiving a 20 million yuan (about $2.4 million) government grant a year for technological development. Beijing has confirmed its backing of specific companies with the objective of bringing them into the ranks of the world's top 500 companies by 2010. The scheme was announced by Li Rongrong, vice-director of the State Economic and Trade Commission who was quoted in a Shanghai Securities news report. Other firms chosen for the grant include Shanghai-based Baoshan Iron and Steel, electric appliance maker Haier Group in Shandong, North China Pharmaceutical (Group) in Hebei, Shanghai's Jiangnan Shipyard (already one of China's top 500 enterprises) and computer producer Founder Group in Beijing (parent company of Founder, Hong Kong). The six firms would try to lift annual investment in technology development to 5 to 10 percent of total sales revenue, Li said. - November 25, 1997 Sichuan Changhong Electronics Tel: (816) 241 5268 Fax: (816) 233 7518

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