Latest News:  
Beijing   Overcast    30 / 24 ℃  City Forecast

Home>>China Business

Nation seeks strategic industries' development (2)

By Lan Lan  (China Daily)

08:04, July 24, 2012

Policymakers must transform ways of thinking, as the successful development of emerging industries won't rely solely on new building, as was the case during the development of the chemical industry in the past decade, he said.

Also, overcapacity has emerged in emerging sectors such as wind power.

At the same time, the government must position itself well in the development of emerging industries, he added.

Public investment should mainly focus on key common technologies that could be shared among companies. The government could also play a positive role in creating a favorable investment environment and launch pilot programs to help shorten the time it takes new products to be accepted in the market.

"The government should play only a limited role in the development of emerging industries. To make these industries really competitive and mature, market mechanism should play a decisive role," Wan said.

Strategic emerging industries are targeted to maintain an average annual growth rate of more than 20 percent, and the government will provide favorable fiscal and financial policies to boost their development.

Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, said the planning showed the central government's preference for future investment, and local governments will follow suit to get their projects' approval.

Some provinces have announced a series of subsidy measures to support strategic emerging industries.

Companies in strategic industries can expect significant subsidies from the central government and local governments, experts said.

The central government has set up a 7.5 billion yuan ($1.17 billion) investment fund this year for strategic emerging industries, said Lin.

Reuters reported at the end of 2010 that China was considering investing up to $1.5 trillion in the seven strategic industries by 2015.

【1】 【2】

Email|Print|Comments(Editor:李倩、厉振羽)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. APF servicemen in training

  2. Heavy monsoon rain hits Lahore, Pakistan

  3. No hard landing for Chinese economy

  4. Weifang kite festival attracts international hobbyists

  5. Zhang Ziyi and Sa Bening's love affair comes to light

  6. Crazy man goes wild in public

Most Popular

Opinions

  1. West wrong on Chinese public's Syria view
  2. Clinton’s Asia trip takes economic turn
  3. Will SE Asia become a battleground?
  4. Credit stimulus not panacea
  5. Reforms are promising, but not perfect
  6. Raise awareness of domestic brands
  7. Ivy League not gold standard for teachers
  8. No need to panic about slowdown in China
  9. Commentary: Health of stock market
  10. S. China Sea tensions stirred up with outside help

What's happening in China

Fish farm in waters at Meiji Reef of South China Sea

  1. Boys have lower bar for university entry
  2. Second child is a growing option
  3. Chinese beauties put more weight on inner beauty
  4. Work to save traditional culture in Guizhou
  5. Hospital director arrested for raping 2 minors

China Features

  1. You and me, in Beijing to understand China
  2. Guided-missile battalion conducts training
  3. Main ingredient of Evian toner is water
  4. DPRK celebrates top leader's Marshal title
  5. Cangshan Mountain in Shanxi province

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai