China sets roadmap to boost high-tech industries

BEIJING: The Chinese economy is poised for more vigorous growth after gathering new strength through upgrades in traditional industries and accelerating the growth of high-tech industries and emerging sectors.

The country will further expand market access with a nationally unified, annually released and timely adjusted negative list for more market vitality, according to the National Development and Reform Commission, China's top economic regulator.

Meng Wei, spokeswoman of the commission, said at a media conference that China has made steady progress in cultivating new momentum and promoting the transformation and upgrading of existing industries, thanks to measures to stimulate innovation, optimize the business environment and public services, and to strengthen opening-up and cooperation in the digital sector.

"China's high-tech industries, represented by new technologies, new industries, and new products, have maintained rapid growth in recent months," she said. According to the commission, output in the high-tech manufacturing sector rose 8.7 percent year-on-year from January to April, 2.5 percentage points higher than that of industrial output. High-tech manufacturing output was responsible for 13.6 percent of industrial output, 1 percentage point higher year-on-year.

Output of the electronics and communication equipment manufacturing sector, pharmaceutical manufacturing and aerospace and equipment manufacturing were 10.8 percent, 7.2 percent, and 8.3 percent, respectively, registering significantly faster growth than industrial output.

The emerging service sector also grew very fast, Meng said.

In April, the information transmission industry, along with software and information technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.

Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four months, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.