China underscores development of strategic emerging industries

BEIJING -- China vows to boost the development of strategic emerging industries, according to the full text of the Communist Party of China Central Committee's development proposals made public on Tuesday.

China will speed up developing several strategic emerging industries, including new-generation information technology, biotechnology, new energy, new materials, high-end equipment, new energy vehicles, environmental protection, aerospace, and marine equipment, according to the document.

The document, the Party leadership's proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, was adopted at the fifth plenary session of the 19th CPC Central Committee which closed on Oct 29.

The proposals call for the deep integration of internet, big data and artificial intelligence with other industries, facilitating the cluster development of advanced manufacturing, building a series of strategic emerging industries as new growth drivers, and nurturing new technologies, new products, new business models and new business forms.

China will also promote the healthy development of platform economy and shared economy, encourage corporate mergers and acquisitions, and avoid low-level repetitive construction, the document said.