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China Identifies Strategic Emerging Industries for Investment

“Strategic emerging industries and future industries are the new battlefield for competition,” according to Zhuang Shuxin, Secretary-General and spokesperson for the State-owned Assets Supervision and Administration Commission of China’s State Council.

A recent People’s Daily article stated that the Chinese government plans to “promote a number of major projects,” select “hundreds of projects” in strategic emerging industries, construct “clusters of strategic emerging industries,” implement special actions such as “AI+,” and accelerate the formation of landmark achievements in key areas such as biotechnology, new materials, and new energy vehicles. The government will also expedite industrial development supported by technological breakthroughs; foster pioneering enterprises, leading enterprises, and unicorn enterprises; and create landmark products in areas such as neuromorphic intelligence, quantum information, deep earth and sea exploration, and laser manufacturing.

Source: People’s Daily, January 30, 2024