Subject to the approval by the Customs, new and high technology enterprises may set up in the new and high technology industries development zones bonded warehouses or bonded factories.

经海关批准，高新技术企业可以在高新技术产业开发区内设立保税仓库、保税工厂。

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Departments concerned may establish venture investment funds in the new and high technology industries development zones for the development of new and high technology products with greater risks.

有关部门可在高新技术产业开发区建立风险投资基金，用于风险较大的高新技术产品开发。

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Thee Customs may, when deeming it necessary, set up agencies or station supervisory groups in the new and high technology industries development zones to supervise and control the imports and exports.

海关认为必要时可在高新技术产业开发区内设置机构或派驻监管小组，对进出口货物进行管理。

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This helps to explain why Europe lags America in both the development of high-tech industries and the pace of investment in information technology.

ECONOMIST: Economics focus