SHANGHAI (Reuters) – China’s coastal province of Zhejiang, home to e-commerce giant Alibaba , has pledged more than $17 billion to drive the tech industry and innovation in the coming five years, the state news agency Xinhua reported.
The plan comes at a time when central and local governments around China are taking increasing steps to boost the struggling private sector and enhance the competitiveness of the country’s home-grown technology firms.
Xinhua - Zhejiang - Provincial - Governments - Yuan
Xinhua said Zhejiang’s provincial, municipal and county-level governments would spend 120 billion yuan ($17.5 billion) in the next five years to “boost up high-tech and internet companies as well...
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