Large high-tech companies in Guangzhou expected to grow output value by 8 percent a year

The output value of high-tech products made in scale-designated companies in Guangzhou, the capital of Guangdong province, is expected to grow by 8 percent year-on-year to 860 billion yuan ($130.5 billion) in 2015, thanks to increased investment in technology research and development, according to the local government.

Scale-designated companies refer to businesses with more than 20 million yuan a year in sales.

According to the Guangzhou Science and Technology Innovation Commission, the output value of the advanced equipment manufacturing of Guangzhou will surpass 1.1 trillion yuan by 2017.

“We will promote use of industrial robots and smart equipment devices to help upgrade the manufacturing industry,” said Wang Yuexi, vice director of the commission, during an industrial forum on innovation.