Strategic emerging industries key to Shanghai’s 13th Five-Year Plan

By Song Yingge | September 2, 2016, Friday |

Online Edition

SHANGHAI targets 20 percent for the contribution percentage from strategic emerging industries to the city’s gross domestic product by 2020 to upgrade industries, highlighting the integration of digitization and industries as the key competitive advantage, said the government.

Advanced information industry led by integrated circuit and automobile industry are aimed to generate 100 billion yuan (US$15 billion) respectively on production value, while intellectual equipment manufacturing, new materials, aviation industry, energy saving are set for 50 billion yuan on production growth, over the next five years ending in 2020.

While the city proposed manufacturing should take up 25 percent of the GDP, Chen Mingbo, director of the Shanghai Commission of Economy and Information Technology, said these strategic emerging industries back up the aim by integrating digitization and advanced industries.

“Output values of these industries should account for 20 percent of the city’s GDP,” Chen said.

To realize these targets for the city’s 13th Five-Year Plan (2016-2020), the government will guide the acceleration of digitization among industrial enterprises and call for technical upgrading, especially favoring quantum communication, industrial internet and the Internet of Things.

Industrial enterprises should raise the proportion of research and development investment to corporate revenue by 30 percent from the existing level, while the capital input on digitization should take up 0.5 percent of their operational income, by 2020.

Echoing these implementations, Chen said by then the production value per square kilometer in Shanghai’s industrial areas should be up to 7.5 billion yuan.

Stepping up industrial restructuring and upgrading as steered by the city’s proposals, industrial profit of Shanghai has grown by 8.5 percent over the first half annually, higher than the national pace of 5.7 percent. Industrial revenue of the city totaled 177.4 billion yuan over the first six months, 2.9 percent higher from a year ago.

Emerging industries are booming, given the production values of digital communications and information services surpassed the GDP annual pace by 2.6 percentage points by growing 9.6 percent annually over the first half. New energy sector also emerged as the most profitable industry by gaining 22.5 percent more from last year on earnings over the first half.

“More progress can be expected,” Chen said. “Industrial profits can be raised by 400-500 billion yuan per year once integrated with digitization, as I learnt from some research reports.”

Economy

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Strategic emerging industries key to Shanghai’s 13th Five-Year Plan

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