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Foreign firms 'will benefit from new industries'

By LAN LAN  (China Daily)

08:04, September 05, 2012

Foreign companies will enjoy new opportunities with the development of the recently announced seven strategic emerging industries, such as environmental protection and new-energy vehicles.

Key products and services provided by the industries are being catalogued, Ren Zhiwu, deputy director-general of the Department of High Tech Industry at the National Development and Reform Commission, said in an interview with China Daily.

The catalogue, to be finalized shortly, will define the scope of the industries and list their products and services, Ren said.

According to a national development plan for strategic emerging industries during the 12th Five-Year Plan (2011-15), unveiled in July, the government wants the industries to generate 8 percent of GDP in 2015 and 15 percent by 2020. This is a marked rise from the 4 percent of GDP that they were responsible for in 2010.

Plans for energy saving and environmental protection, high-end manufacturing, new materials and new-energy vehicles have been issued. Plans for new-generation information technology, biotechnology and new energy are being examined for approval by the State Council.

Other reforms are in the pipeline, Ren said, such as low-altitude airspace management, the convergence of telecom, broadcasting and Internet network services and reform of the pricing mechanism and quota system for new energies.

The government will set up a special fund to boost emerging industry development.

The fund for this year is a 7.5 billion yuan ($1.17 billion) investment in innovation and strategic emerging industries allocated by the government in March, industry insiders said.

Together with investment in key scientific research projects and local fiscal investment, the total will be more significant, economists said.

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