Zhao Kezhi, vice-governor of Jiangsu province.
China's Jiangsu province will set up a fund of 1 billion yuan ($147.10 million) this year, adding its special fund to more than 3 billion yuan for financing its six emerging industries."The six emerging industries will make more than 3 trillion yuan in sales revenue in 2012, and take in more than 5 trillion yuan in 2015," Vice-governor of Jiangsu province Zhao Kezhi told the press conference Monday.
Jiangsu's six emerging sectors are new energy, materials, bio-tech and pharmaceutical technology, environmental technology, software and service outsourcing, and the internet.
The six emerging sectors realized 1.52 trillion yuan sales revenue in 2009, which is 21 percent of the total industrial revenue of the province.
"Jiangsu's growth by resource-consuming is shifting to innovation-driven development," said Zhao.
The provincial government has been supporting emerging industries by joint conference for key issues, and favorable regulations in tax levying, land using, and fund raising.
"By 2015, the province is expecting 30 emerging industry chains, 30 special industrial zones above provincial level for emerging industry business, and 500 leading innovative core enterprises," said Zhao.
"Conventional industries are upgrading, and a total of 1.52 trillion yuan is to be put into the technological upgrading by 2012," added Zhao.
