The Guangzhou Development and Reform Commission has announced an overall approach to speeding up the development of a number of new strategic industries. According to the plan, 10 sectors have been identified as new strategic industries for priority development. They include alternative energy, energy conservation and environmental protection, electric cars, new materials, new pharmaceuticals, marine biology, software and information service, next-generation wireless mobile communication, the Internet of Things and the next-generation Internet, and semiconductor lighting.
Guangzhou authorities are working on a plan to advance these new strategic industries, which will be incorporated into the city s 12th Five-Year Plan. These industries will be given preferential policies in terms of industry, taxation, finance, investment, foreign trade, and economic cooperation, and their overall growth environment will be constantly optimized.
To steer the flow of private capital into these new strategic industries, Guangzhou authorities will set up a number of entrepreneurial investment foundations in selected strategic industries.
