More funds to help develop China's emerging industries
By Wang Yanlin |
March 10, 2010, Wednesday
|
Print Edition
Print Edition
CHINA will allocate more funds to spur the development of the country's strategic emerging industries such as green energy and telecommunications, senior officials said on the sidelines of the annual sessions of the nation's top legislative and advisory bodies.
Zhang Shaochun, China's deputy finance minister, said the country planned to spend 70.9 billion yuan (US$10.3 billion) on environment protection and energy conservation projects this year, an increase of 33 billion yuan from a year earlier.
Of that amount, 50 billion yuan will be spent on research and enforcement of energy conservation and carbon emission reductions. Another 10.9 billion yuan will be spent in developing renewable energies.
For other strategic industries such as information technology and telecommunications, Zhang said the Ministry of Finance was collaborating with other related ministries on a plan.
Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, said the planning agency will release a draft document describing the route of China's faster development in strategic industries in September.
"To speed up the developing pace of strategic industries is an important part in accelerating China's economic revamp," Zhang said.
He added that the commission had been carrying out a study to assess the potential of development in industries, including new materials, new energy, environment protection, carbon emission reduction, biomedicine, telecommunications, green vehicles, civil aviation and marine engineering.
Economic restructuring is a key topic at this year's sessions of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference.
Last week, Premier Wen Jiabao said China had to vigorously push forward the reform of economic structure to lay the foundations for long-term development.
Zhang Shaochun, China's deputy finance minister, said the country planned to spend 70.9 billion yuan (US$10.3 billion) on environment protection and energy conservation projects this year, an increase of 33 billion yuan from a year earlier.
Of that amount, 50 billion yuan will be spent on research and enforcement of energy conservation and carbon emission reductions. Another 10.9 billion yuan will be spent in developing renewable energies.
For other strategic industries such as information technology and telecommunications, Zhang said the Ministry of Finance was collaborating with other related ministries on a plan.
Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, said the planning agency will release a draft document describing the route of China's faster development in strategic industries in September.
"To speed up the developing pace of strategic industries is an important part in accelerating China's economic revamp," Zhang said.
He added that the commission had been carrying out a study to assess the potential of development in industries, including new materials, new energy, environment protection, carbon emission reduction, biomedicine, telecommunications, green vehicles, civil aviation and marine engineering.
Economic restructuring is a key topic at this year's sessions of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference.
Last week, Premier Wen Jiabao said China had to vigorously push forward the reform of economic structure to lay the foundations for long-term development.
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