China signed almost 6,400 technology import contracts worth 14.83 billion U.S. dollars in the first seven months of 2006, up 56.5 percent year on year, according to the Ministry of Commerce.

Technological transfer fees included in the contracts were valued at 9.12 billion U.S. dollars, according to a MoC report quoted by Xinhua-run Shanghai Securities News Tuesday.

The European Union is still the number one technology exporter to China, followed by Japan and the United States, according to the report.

China signed 6.26 billion U.S. dollars worth of technology import contracts with the EU in the first seven months, a rise of 37.4 percent.

Licensing of "proprietary technology" grew 62.2 percent year on year to 4.76 billion U.S dollars.

During the 10th Five-Year Plan period (2001-2005), China imported advanced technology worth 70 billion U.S. dollars, according to sources with the Ministry of Commerce.

These technology imports have spurred a remarkable improvement in China's technological level and its production capacity, particularly in the power, metallurgy and petrochemical industries.

Source: Xinhua