Quzhou to construct 110b yuan worth of emerging industry

Quzhou in East China's Zhejiang province plans to ramp up its efforts to develop emerging industries in the next three years. [Photo/WeChat account: quzhoufb]

Quzhou in East China's Zhejiang province will ramp up its efforts to develop emerging industries in the next three years, local media recently reported.

Local government recently issued three-year act plans to transform traditional industries and cultivate emerging industries.

According to the plan, by 2021, driven by digital economy, the revenue of the manufacturing sector in the city is expected to gross 23 billion yuan ($3.40 billion) with 26 billion yuan set as the highest goal.

By then, Quzhou will nurture 300 pilot digital transformation companies and establish 100 model digital economy companies.

The plan also stated that by 2021, the total output of emerging industries in Quzhou will reach 110 billion yuan, taking up 45 percent of that of its industrial economy.

New materials, new energy, high-end equipment, electronic information and life health are the key emerging industries.

During the three years, Quzhou will house more than 50 state or provincial technology innovation centers, cultivate 50 companies with strong ability of independent innovation and huge market potential and 100 high-tech businesses, and carry out more than 100 major science projects.