China’s Strategic Emerging Industries Contribute 20% of GDP Growth

China’s Strategic Emerging Industries Contribute 20% of GDP Growth

2018/11/30

The growth of China’s strategic emerging industries drove nearly 20% of GDP growth annually over the past decade, according to an official on November 27. Announcing the figures at a forum, Cheng Xiaobo, president of the State Information Center, said strategic emerging industries offered significant support to stable economic development. “The research and development intensity of strategic emerging listed firms was about 50% higher compared with the overall level of all listed companies in the past five years,” Cheng said. “Patent numbers in the sector doubled in that period.” China has stepped up support for strategic emerging industries including tax cuts and financial aid in an effort to speed up industrial upgrades. The output of China’s strategic emerging industries increased 10.1% year on year in October, up 1.7% points from September. "The strategic emerging sectors are playing an active role in guiding the supply upgrade, enterprise transformation and regional economic structure adjustment," said Ren Zhiwu, deputy secretary general of the National Development and Reform Commission. Ren stressed efforts to build a self-dependent innovation system, cultivate sustainable innovation ability, develop high-level industrial clusters, strengthen financial support, optimize business environment and promote international cooperation.

Source: China.org, Xinhua




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It is lucky for Chen Jun to began his career in the IP industry 14 years ago when the first group of IP managers for businesses appeared on the stage in China and he has been in the industry.

It was this “Whampoa Military Academy” for IP that educated China’s first batch of corporate IP management personnel. Many of these engineers left Foxconn in the years since.