Xiamen to develop strategic emerging industrial clusters

The coastal city of Xiamen in East China's Fujian province will deploy strategic emerging sectors and industries of the future including digital economy, life health services and new materials, local media reported.

It is expected that the city will cultivate one to two emerging industrial clusters, each with an annual output value of over 100 billion yuan ($14.98 billion), by 2025.

In recent years, the business environment in Xiamen has attracted major new economy startups that are seeking lower costs and a better working environment.

Chinese voice technology and artificial intelligence service provider Unisound, a unicorn based in Xiamen's Jimei district, is among those that has benefited from the city's favorable policies such as subsidies for research and development (R&D).

Xiamen has also made great efforts to advance the development of its life and health industry. The city has rolled out a series of measures to promote the high-quality development of its biomedical industry as it aims to cultivate national biomedical industrial clusters and develop the city into a national center for the life sciences.

Local authorities said that, by the end of 2025, the industrial scale of Xiamen's biomedical industry will exceed 150 billion yuan, and a number of leading enterprises will be cultivated in the city, including more than 500 national high-tech enterprises.

In the future, Xiamen will focus on industries of the future such as artificial intelligence, flexible electronics, new-type displays, integrated circuit, high-end equipment, new materials, life and health. The city will roll out supportive measures to promote the development of the above strategic emerging industries in an effort to develop itself into a regional innovative center with global influence.