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Local inventions mean big bucks for Longyan

By Tong Hao (chinadaily.com.cn)
Updated: 2009-11-18 13:49

Nine enterprise employees in Longyan, a southwest city in Fujian province, transferred their individual inventions to local enterprises on Nov 17, resulting in a total investment of 58.05 million yuan.

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The nine inventions cover industries such as agriculture, machinery and electronics, among which eight technologies were transferred at a total price of 5.92 million yuan and one was appraised as capital stock. These technologies are estimated to create a total output value of 113.68 million yuan after being put into production.

The city's Labor Union presented 425 technologies invented by local employees in recent years and selected 17 gold prizes, 54 silver prizes and 91 bronze prizes at a recent event. So far, 225 inventions have been put into practice.

In order to encourage employees in all industries to invent and create, Longyan established a service center last year to provide necessary training and other support.