Strategic industries may receive $1.5t

11:17, December 03, 2010      

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Up to $1.5 trillion in investments may be pumped into seven key industries over the next five years, Reuters quoted a Chinesesource as saying Thursday. This plan would be key to transforming China from a supplier of cheap goods into a leading manufacturer of high-value technologies.

A source with direct knowledge of the proposal told Reuters that "the State Council is considering a plan to invest up to 2 trillion yuan ($300 billion) each year in the seven new strategic industries over the next five years."

The sectors targeted by the plan would include alternative energy, biotechnology, new-generation information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars and green technologies. These seven industries currently bring in around 2 percent of GDP, a contribution the governments wants to push to 8 percent by 2015, and 15 by 2020.

Source: Global Times/Agencies

(Editor:李佳)

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