BEIJING, Aug. 21 (Xinhua) -- Local authorities in China including Guangdong, Liaoning, Guangxi and Gansu have recently released industrial investment plans or action plans for high-quality industrial development, in succession, to target the industrial optimization and upgrading, according to the Xinhua-run Shanghai Securities News on Tuesday.
Analysts point out that the Chinese authorities are expected to increase investment in high-tech manufacturing and industry technological transformation.
--- Local authorities unveil policies for industry upgrading
Since the second half of the year, local authorities in China have begun to focus on the industrial investment.
For example, on August 18, Guangdong Provincial Government issued a three-year (2018-2020) action plan for sustainable development of the industrial investment, with the aim to achieve an annual growth rate of around 6 percent in the province's industrial investment and about 12 percent in industrial technology transformation investment in the next three years.
Earlier, Liaoning Provincial Government unveiled a plan to accelerate project construction and expand effective investment. The plan proposed that from 2018 to 2020, the province's fixed asset investment will maintain a double-digit increase every year. By 2020, proportion of the province's manufacturing investment to its fixed assets investment will see a significant increase.
Guangxi Zhuang Autonomous Region issued an action plan for high-quality industrial development from 2018 to 2020 and a five-year plan for the advanced equipment manufacturing city in Yulin City. It will strive to achieve a total output value of 500 billion yuan in the new-generation IT industry and 100 billion yuan in biomedical industry and new materials industry by 2020.
From the perspective of the information disclosed by the local authorities, strategic emerging industry projects and advanced manufacturing industries are their center of focus.
--- Industry investment growth continues improvement
According to the statistics of Shanghai Securities News, from January to July, Hunan, Hebei, Shanghai, Fujian, and Yunnan saw their industrial investment growth rate exceed 10 percent, much higher than their overall investment growth.
Industrial investment has become the main force driving the local investment growth. For example, according to the local statistics authority, central China's Hunan Province saw its industrial investment in the first seven months of the year increase by 27 percent year on year, 4.1 percentage points higher than that in the first half of the year, and the contribution of its industrial investment to the total investment growth reached 72.3 percent.
Some regions in China saw the obvious growth in the manufacturing investment. Provinces of Hunan and Fujian both saw their growth rate of manufacturing investment from January to July exceed 20 percent.
It is worth noting that growth rate of investment in high-tech manufacturing and equipment manufacturing is much higher than that of fixed assets investment during the period. (Edited by Hu Pingchao, hupingchao@xinhua.org)
A single purchase
