Emerging industries need healthy market environment

13:40, November 23, 2010      

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The central government has identified several emerging industries that will be strategic to the nation's development. So what are they? And what difficulties do they face?

China defines strategic new industries as ones with an innovative technological edge and great potential. Medical equipment is an example. Chinese companies have become leaders in this industry.

Xu Hang, Chairman of SZ Mindary Bio-Medical Electronics Co. said "We have over 6 thousands employees around the globe. In term of productivity, we hold the most market share in the world."

Products at this company are 30 percent cheaper than the same type of equipment produced by companies elsewhere.

But one drawback for such a large company is developmental bottlenecks.

Xu Hang said "Our most advanced portable B-ultrasonic equipment got its license in China half a year after we sold this product in the United States."

Their delay in China was bureaucratic. But it's not just medical equipment. The LED lighting industry has encountered challenges as well. Currently, there are more than three thousand such companies in China. With such a fragmented market, competition works against them. Rather than sharing technology, research often overlaps or has significant gaps.

Barriers also exist in terms of funding, taxation and licensing. Experts suggest China establish a fund for these high-growth industries to raise not just capital, but also awareness. Officials say they are working towards creating a healthy market environment for these emerging industries.

Source: CNTV.cn


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