Township enterprises boom

PUBLISHED : Saturday, 06 August, 1994, 12:00am
UPDATED : Saturday, 06 August, 1994, 12:00am

THE number of township enterprises in Jiangsu province which produce more than 100 million yuan (about HK$89.3 million) annually in output value topped 500 by the end of june.

According to the provincial township enterprise bureau, the enterprises made a total of 84 billion yuan in output value and 4.27 billion yuan in net profits, one seventh and one sixth of the total of all township industries in Jiangsu, Xinhua (the New China News Agency) reported.

All of the 500 large township enterprises are Sino-foreign joint ventures and involved in exports.