China rolls out guideline to boost development of strategic emerging industries

BEIJING - China has issued a guideline on strategic emerging sectors in the 13th Five-Year Plan period, with their output expected to account for 15 percent of GDP by 2020.

China wants five new pillar industries each with output of 10 trillion yuan ($1.44 trillion): information technology, bio-industry, green and low-carbon industry, high-end manufacturing, and digital and creative industry.

China plans to develop a number of new growth poles based on industrial integration and create more than 1 million new jobs each year by 2020, according to a State Council document published on Monday.

The document explains the opportunities brought by new technology and put emphasis on strategic emerging industries. China should establish a modern industrial system and foster new growth momentum, it said.

The government will provide policy support in managerial improvements, intellectual property rights and financing.

The government will also help establish an industrial innovation system and increase efforts to cultivate and give incentives to talented people, the guideline said.