China's railway transportation industry imported technology worth 1.06 billion U.S. dollars in January 2006, 24 times than that during the same period last year, the Ministry of Commerce said on Thursday.

The figure accounted for 58 percent of China's total technology imports in January, which stood at 1.83 billion dollars, up 14.5 percent from the previous year.

Meanwhile China's electronic and telecommunications equipment manufacturing industry and non-ferrous metal processing industry imported technology respectively worth 180 million dollars and 150 million dollars, making up 9.9 percent and 7.9 percent of the total volume.

During the month, China signed 661 contracts to import technology, paying 690 million dollars for its transfer.

In January 2006, the European Union remained the first source of China's technology imports, followed by Japan and the Republic of Korea.

It signed technology import contracts worth 940 million dollars with the European Union, up 150 percent, and contracts worth 500 million dollars and 210 million dollars from Japan and the Republic of Korea.

Meanwhile China's state-owned enterprises imported technology worth 1.18 billion dollars, accounting for 64.3 percent of the total volume, and foreign-funded enterprises imported technology worth 600 million dollars, accounting for 32.9 percent of the total.

China imported almost 50,000 items of technology with a contracted volume of over 100 billion dollars from 1999 to 2005.

Chinese companies are paying more attention to importing technology rather than equipment, said the ministry.

Source: Xinhua