China to invest more in emerging industries

BEIJING — China’s emerging industries will become a major driving force for investment growth this year, the Economic Information Daily reported on March 13.

China will increase policy support for and infrastructure investment in emerging industries in 2019, including commercial applications of 5G, artificial intelligence, industrial internet and internet of things, according to the National Development and Reform Commission (NDRC).

The country will cultivate emerging industrial clusters with market influence and distinctive advantages that can vigorously drive regional economic transformation, the newspaper quoted Ren Zhiwu, deputy secretary-general of the NDRC, as saying.

The Ministry of Industry and Information Technology also plans to promote the deep integration of the internet, big data and artificial intelligence with the real economy, and encourage innovation in new technologies and new forms of industry, the newspaper said.

Local governments will also step up support for strategic emerging industries in financial aid, technological innovation and the business environment. Efforts should be made to improve strategic emerging industries’ capabilities to innovate, said the newspaper.