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Funds for 7 strategic industries
By Ding Yining |
September 17, 2010, Friday
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Print Edition
Print Edition
CHINA will soon unveil a detailed plan to foster 200 industry funds totaling 100 billion yuan (US$14.7 billion) to support seven new strategic industries and encourage capital investment in these areas, a government official said yesterday.
"The National Reform and Development Commission is working on the draft plan, and this will allow both Chinese and foreign capitals to invest in these key areas," said Zhang Yingxin, deputy director-general of the Committee of Investment Promotion Agency at the Ministry of Commerce. "I believe the plan will be released very soon, within a few months."
The stimulus package will include 10 billion yuan from central government fiscal spending and another 10 billion yuan from local governments. The State Council has named energy efficiency and environment protection, IT, biology, new energy, advanced equipment manufacturing, new material and new-energy cars as the seven new strategic industries.
"The National Reform and Development Commission is working on the draft plan, and this will allow both Chinese and foreign capitals to invest in these key areas," said Zhang Yingxin, deputy director-general of the Committee of Investment Promotion Agency at the Ministry of Commerce. "I believe the plan will be released very soon, within a few months."
The stimulus package will include 10 billion yuan from central government fiscal spending and another 10 billion yuan from local governments. The State Council has named energy efficiency and environment protection, IT, biology, new energy, advanced equipment manufacturing, new material and new-energy cars as the seven new strategic industries.
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