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August 3, 2016

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Revamp drives emerging firms

CHINA’S economic restructuring acts as a catalyst for emerging and innovative industries to grow faster and boost their output to benefit the overall economy, the National Development and Reform Commission said.

Such emerging industries in new energy vehicles, industrial robots and solar battery have seen their growth gallop faster than conventional industries in the first half year, the NDRC said yesterday.

From January to June the output of new energy vehicles surged 88.7 percent from the same period last year. The output of sport-utility vehicles jumped 39.7 percent, industrial robots up 28.2 percent, optical fibers up 28.2 percent and solar batteries rose 28 percent year on year, according to the NDRC.

These “strategic emerging industries” which also include energy saving, bio-industry, and advanced equipment manufacturing posted a growth of 11 percent year on year in production, 5 percenht higher than the general industrial growth.


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