BEIJING, March 13 (Xinhua) –China will promote the development of emerging industries as a key task this year, as emerging industries have once again become the focus of attention due to the opening of China’s new science and technology innovation board, the Xinhua-run Economic Information Daily reported on Wednesday.
The National Development and Reform Commission (NDRC), China's top economic planner, revealed that the fixed-asset investment was expected to grow steadily in 2019 and investment in emerging industries will become the major driving force for economic growth.
In the future, the country will put priority on stepping up the policy support and infrastructure investment in the fields including 5G commercial use, artificial intelligence (AI), industrial internet, and Internet of Things (IoTs).
Experts noted that new capital investment will not continue to be put into excess or outdated production capacity, but will turn to more dynamic emerging industries under the promotion of policy support.
Data from the National Bureau of Statistics showed that investment in emerging industries continued to grow at a relatively fast pace last year, of which high-tech manufacturing investment surged 16.1 percent year on year, well above the average growth rate of 9.5 percent of manufacturing investment and 5.1 percent of total investment in the same period of last year.
China will beef up efforts to boost investment in AI, industrial internet, IoTs this year and step up the pace of 5G commercial use, said Lian Weiliang, deputy director of NDRC, adding that infrastructure investment will be more inclined to the sci-tech industry.
Many experts also advised that the country should speed up the improvement of the main investment system of strategic emerging industries, expand investment and financing channels, and optimize the financing system and mechanism of strategic emerging industries. At the same time, Chinese authorities should strictly control blind investment and duplicate construction in strategic emerging industries.
（Edited by Yang Yifan, yangyifan@Xinhua.org）
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