The seven new strategic industries include energy conservation and environment protection, new information technology, biology, high-end equipment manufacturing, new materials, new energy and new-energy cars, according to the plan.
The seven industries will maintain an average growth rate of more than 20 percent during the 2011-15 period, the plan said.
The total value-added output of the industries will account for around 8 percent in China’s GDP by 2015, it said.
Three sectors that will receive a major boost from the 12th FYP are health care, energy
and technology. Not only have segments of these sectors been singled out as China’s
new Strategic Emerging Industries (SEIs), but they also dovetail with the 12th FYP’s
emphasis on “inclusive growth.”
Strategic Emerging Industries: No longer content with being considered the “world’s factory,” Chinese planners have included several preferential tax, fiscal and procurement policies designed to develop seven “Strategic Emerging Industries” (SEIs). Planners hope these industries will become the backbone of China’s economy in the decades ahead, and they have been chosen sectors where Chinese corporations are expected to succeed on a global scale. The seven industries are biotechnology, new energy, highend equipment manufacturing, energy conservation and environmental protection, clean-energy vehicles, new materials, and next-generation IT. The government is reportedly prepared to spend more than RMB 4 trillion ($600 billion) on these industries during the 12th FYP period, with an aim to increase SEI’s contribution from today’s approximately 5 percent of GDP to 8 percent by 2015 and 15 percent by 2020.
China will spend about $1.5 trillion from 2011 -2020 on the Strategic Industries.
The plan aims to boost the innovation capability of those industries, improve the environment for innovation and starting businesses and strengthen their positions in global labor division.
The plan also aims at enhancing the role of the seven industries in serving the upgrading of industrial structure, energy saving and emission reduction, raising people’s living standards and adding jobs.