CHINA S strategic industries would grow at an average rate of 24.1 percent in the years between 2011 and 2015 and growth would slow to 21.3 percent in the next five years, China Securities Journal said yesterday.
The government unveiled its targets earlier this year for the seven industries, namely the alternative energy, biotechnology, new-generation information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars and energy-saving and environmentally friendly technologies, to generate 8 percent of its gross domestic product in 2015 and 15 percent by 2020.
Zhou Zixue, chief economist at the Ministry of Industry and Information Technology, gave the headline projection based on his rough estimate that the seven industries account for around 4 percent of China s GDP this year.
Zhou said the industries of next-generation information technology, energy-saving, biotechnology and high-end equipment manufacturing would grow at a pace even faster than the average, the newspaper said.
To reach the goal, the government was considering investments of up to US$1.5 trillion over the next five years in these industries, sources said early this month. (SD-Agencies)
