File photo shows the automated production line in a car factory.
BEIJING, Aug. 26 (Xinhua) -- Local authorities in China have rolled out a slew of new policies in the past half month to support development of the advanced manufacturing industry and particularly nurture emerging industrial clusters involving the new generation of information technology, high-end equipment, new energy vehicles, aviation manufacturing and other fields, the Xinhua-run Economic Information Daily reported on Wednesday.
Authorities in the provinces of Henan and Yunnan and the city of Xi'an have released such policies as it has become a consensus to support the development of advanced manufacturing.
At a recent conference attended by heads of the industry and information technology authorities, the vitalization of manufacturing industry, especially advanced manufacturing, was placed in a prominent position for the country's new development pattern.
Financial institutions will substantially increase medium and long-term financial support for advanced manufacturing and strategic emerging industries, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC).
Central China's Henan Province on Aug. 16 rolled out a plan to promote high-quality development of the manufacturing industry, targeting 20 industrial clusters with the output value reaching 100 billion yuan (about 14.47 billion U.S. dollars) by 2022.
Yunnan Province in southwest China has recently unveiled a circular on the fast-track construction of a modern industrial system, proposing to nurture five major pillar industries such as advanced manufacturing industry and targeting 1.5 trillion yuan in main business revenue in the industry by 2025.
Developing the advanced manufacturing is an important way to make up for the weakness of the industrial basic capabilities and further enhance the industrial chain modernization, according to Hou Yanquan, deputy director of Regional Development Lab of the CCID Planning Research Institute. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
A single purchase
