Aid­ing growth of strate­gic in­dus­tries

China Daily (Hong Kong) - - POLICY REVIEW -

The ex­ec­u­tive meet­ing of the State Coun­cil has is­sued a doc­u­ment on the de­vel­op­ment of na­tional strate­gic emerg­ing in­dus­tries dur­ing the 13th Five-Year Plan pe­riod (2016-20). Ac­cord­ing to the plan, the coun­try will raise the ra­tio of the value added of strate­gic emerg­ing in­dus­tries to GDP to 15 per­cent by 2020. De­vel­op­ment of five new pil­lar in­dus­tries, in­clud­ing the next-gen­er­a­tion in­for­ma­tion tech­nol­ogy, high-end man­u­fac­tur­ing, bi­ol­ogy, the green and low-car­bon in­dus­try, and the dig­i­tal cre­ative in­dus­try, should be sup­ported. ment, a move that will fa­cil­i­tate in­vest­ment ac­tiv­i­ties. The newly re­vised cat­a­logue fo­cuses more on the cor­re­spond­ing sys­tem­atic buildup af­ter those ap­proval items are del­e­gated to the lo­cal gov­ern­ments. It is cal­cu­lated that about 90 per­cent of en­ter­prise in­vest­ment projects that should be ap­proved by the cen­tral gov­ern­ment have been can­celled or del­e­gated to lo­cal gov­ern­ments.

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