The National Development and Reform Commission (NDRC), China's top economic planner, has come up with a five -year plan kicking off next year to help emerging industries boost their innovation efforts.
The NDRC revealed on Friday that the plan will feature a number of priorities showcasing reform for the said industries. These include launching an innovative drug approval process, unveiling low-altitude airspace, promoting e-vehicle charging facilities, and initiating broadband services to private investors.
Furthermore, the government is also planning to encourage emerging enterprises to expand, raise fund via public offerings, crowdfunding and bond issues.
According to Wang Chanlin, the NDRC Academy of Macroeconomic Research's research department of industrial economics head, further studies and other related investigations are on the cards.
2015 marks the last year of China's 12th Five-Year Plan covering 2011 to 2015; hence, agencies and departments are now focusing on drafting their 13th Five-Year Plan (2016 to 2020).
"Specific five-year plans for industries will be released after the national plan. This is most likely to happen in the second half of next year," Wang remarked.
Wang further stated that by the end of 2020, lucrative industries like environmental protection, energy efficiency and health are expected to have a value of 50 trillion yuan.
For the first quarter of this year, 27 strategic emerging industries have totaled 3.96 trillion yuan, an 11.1-percent year-on-year increase.
On the same period, eight areas have seen robust growth, including new computer products, electronic devices, fiber and cable manufacturing, new style rail transport equipment manufacturing, audio-visual equipment, pesticide manufacturing, photovaltic and wind equipment, and aerospace equipment manufacturing.
In an NDRC-conducted survey, those in the strategic emerging industries are positive about economic prospects, posting higher confidence index than the national average.
However, issues over these enterprises still needed to be addressed, covering concerns about procedural obstacles, fund raising and other financial hindrances.
Meanwhile, Shanghai Stock Exchange vice president Liu Shi'an said earlier in May that China is considering to establish a Board of Strategic Emerging Industries, which will focus on meeting the actual needs of such enterprises.