China's tech contracts exceed 318 bln USD in value in 2019

China's technology market has seen more than 484,000 technology contracts in 2019, with the total volume of transactions at 2.24 trillion yuan (about 318.6 billion U.S. dollars), new data showed.

These figures represented year-on-year increases of 17.5 and 26.6 percent, respectively, according to the Ministry of Science and Technology.

It marked a record-high transaction value of China's technology market, exceeding 2 trillion yuan for the first time.

Among all types of technology contracts, those related to technical services achieved a transaction volume of 1.24 trillion yuan, a 28.9-percent year-on-year increase.

Contracts related to technological development, technology transfer, and technology consulting all saw a significant increase in the volume of transactions.

Among all technologies, new energy and high-efficiency technologies achieved the largest increase of 82.7 percent in contract value.