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China to expand investment in eight emerging industries

Source: Xinhua Updated: 2020-09-25

China will ramp up investment in eight strategic emerging industries to foster new growth drivers, according to guidelines jointly issued by four government departments, including the National Development and Reform Commission (NDRC) and the Ministry of Science and Technology.

The eight strategic emerging industries are the new-generation information technology industry, bioindustry, high-end equipment manufacturing industry, new material industry, new energy industry, intelligent and new energy vehicle industry, energy conservation and environmental protection industry, and digital creative industry.

The guidelines aim to enable these strategic emerging industries to play the role of a key engine, speed up the construction of modern industrial systems, and promote high-quality economic development, an NDRC official said.

Financial institutions are encouraged to develop products and services that match the characteristics of these strategic emerging industries, according to the guidelines.