Visitors learn about an autonomous aircraft on display at an exhibition during the "China 5G + Industrial Internet Conference" in Wuhan, central China's Hubei Province, Nov. 19, 2020. (Xinhua/Cheng Min)
BEIJING, March 9 (Xinhua) -- China's industrial internet industry is on fast lane of development with more supportive policies on the way to come.
According to the Chinese government work report delivered at the opening meeting of the fourth session of the 13th National People's Congress on March 5, China will ensure the stable operation of industrial and supply chains and improve them.
To be specific, the country will refund all due VAT credits to advanced manufacturing enterprises on a monthly basis, raise the proportion of loans to the manufacturing sector, and increase investment in the equipment upgrades and technology transformations of manufacturing enterprises.
Besides, it will develop the industrial internet and build additional platforms for generic technology R&D to enhance the innovation capabilities and professional level of medium-sized, small and micro enterprises.
The development of the 5G networks and 1000M fiber optic networks will be stepped up and their application will be extended to more settings.
This has been the fourth time that the industrial internet has been emphasized in the annual government work report since 2018 .
The industrial internet plays an important role to facilitate the transformation, said Xu Xiaolan, President of China Academy of Industrial Internet.
Hai Wen, dean of HSBC Business School of Peking University, suggested that technology and information are to be focused, in order to seek a sustainable development of industrial Internet.
In January this year, China's Ministry of Industry and Information Technology (MIIT) unveiled an action plan to promote the innovative development of industrial Internet during 2021-2023.
The scale of China's industrial internet market is projected to reach 892.47 billion yuan (about 137.08 U.S. dollars) in 2022, with an average annual compound growth of 13.6 percent, according to a research report released in June 2020 by CCID Consulting, a think tank under the MIIT.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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