Monday, 15 October, 2007

China opens military industry to private businesses

Private businesses will be allowed to invest in military infrastructure construction, conduct scientific research for national defense projects and weaponry production, participate in the regrouping of military firms and cooperate with military firms to develop technology for military and civilian use. China has been gradually removing the long-standing monopoly of state capital on its military industry since 2005 when private firms were allowed to produce unimportant military products.

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