Emerging industries to get full support
By Zhu Shenshen |
May 31, 2011, Tuesday
|
Print Edition
Print Edition
SHANGHAI will encourage the development of its emerging industries by offering financial support, improving the investment environment and unveiling favorable policies, city officials said yesterday.
The revenue of the emerging industries, which include new energy, civil aviation, advanced equipment manufacturing, bio-medicine, information technology, new-energy car, marine project and new material, will surpass 1 trillion yuan (US$151.5 billion) in Shanghai this year, up 13 percent on an annual basis, the Shanghai Municipal Commission of Economy and Information Technology said.
"The emerging industries represent a city's ability to sustain long-term-growth and compete at the global level," said Ma Jing, chief engineer of the commission.
Shanghai also plans to develop new growth engines such as Internet of Things, cloud computing and smart grid in its 12th Five-Year Plan period, which runs from this year through 2015.
According to the plan, cloud computing may generate an extra 100 billion yuan to Shanghai's software and IT service sector. By 2012, the software and IT service industry will generate 360 billion yuan in revenue.
To support technological development and research, Shanghai government bureaus have established five city-level funds for various industries. Up to this year, banks in Shanghai have provided loans to local small- and medium-sized firms for 41 projects, Ma said.
Shanghai will further improve the investment environment, such as faster government approval for projects and permanent residency for talented professionals from other provinces and regions.
Shanghai will also encourage local companies to invest more in overseas markets, especially by using the yuan.
The revenue of the emerging industries, which include new energy, civil aviation, advanced equipment manufacturing, bio-medicine, information technology, new-energy car, marine project and new material, will surpass 1 trillion yuan (US$151.5 billion) in Shanghai this year, up 13 percent on an annual basis, the Shanghai Municipal Commission of Economy and Information Technology said.
"The emerging industries represent a city's ability to sustain long-term-growth and compete at the global level," said Ma Jing, chief engineer of the commission.
Shanghai also plans to develop new growth engines such as Internet of Things, cloud computing and smart grid in its 12th Five-Year Plan period, which runs from this year through 2015.
According to the plan, cloud computing may generate an extra 100 billion yuan to Shanghai's software and IT service sector. By 2012, the software and IT service industry will generate 360 billion yuan in revenue.
To support technological development and research, Shanghai government bureaus have established five city-level funds for various industries. Up to this year, banks in Shanghai have provided loans to local small- and medium-sized firms for 41 projects, Ma said.
Shanghai will further improve the investment environment, such as faster government approval for projects and permanent residency for talented professionals from other provinces and regions.
Shanghai will also encourage local companies to invest more in overseas markets, especially by using the yuan.
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