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Strategic emerging industries to generate 10% of GDP

By Wang Yanfei | chinadaily.com.cn | Updated: 2017-07-05 13:56

Output of strategic emerging industries is expected to account for around 10 percent of the country's GDP by the end of this year, a senior official with the nation's top economic regulator said on Wednesday.

"Strategic emerging industries have become and will continue to be key drivers to support sustainable economic growth," said Fei Zhirong, deputy secretary general of the National Development and Reform Commission, at a forum on Wednesday.

He referred to high-tech and low-energy consumption industries such as high-end manufacturing equipment and new materials.

Five pillar industries have been listed as key strategic emerging industries, according to the latest list issued by the commission in February.

Official data show profits generated from strategic emerging industries went up by 13.3 percent year-on-year in the first five months of this year, which was 1.8 percentage points higher than that in the same period in 2016.

By 2020, the added value output of strategic emerging industries is expected to account for 15 percent of the nation's total gross domestic product, by which time 1 million jobs will be created by these industries each year, according to the 13th Five-Year Plan (2016-2020).

He said the commission will issue documents to encourage and guide capital to support the development of strategic industries.

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