Beijing, May 30 (IANS) In a bid to combat the economic slowdown, Chinese government will encourage development of seven emerging strategic industries, it was declared in a guideline Wednesday.
“It is crucial to expand key emerging industries,” reported Shanghai Daily citing a Cabinet statement. “Their growth is of great importance for a stable economy, especially when China has seen mounting pressure of an economic slowdown.”
The seven strategic industries comprise energy conservation and environmental protection, new-generation information technology, bio-technology, high-end equipment manufacturing, new energy, new materials and green vehicles.
The guideline also provided major tasks for the seven industries during the Five-Year Plan (2011-2015) period.