Local Economic Development Focused on New Industries and Future Technologies
As the year draws to a close and the new year begins, economic work conferences across various regions have been intensively planning economic development for 2024, with a special focus on local industrial development roadmaps. The common theme that has emerged is the shift towards strengthening new productive forces, opening up new fields and tracks, and cultivating new momentum for development.
Many places have placed significant emphasis on cultivating and developing emerging industries and future industries as a top priority, with a particular focus on promoting industrial development through technological innovation.
The recently held Economic Work Conference of the Anhui Provincial Party Committee proposed vigorously promoting new industrialization, building advanced manufacturing clusters, and continuously expanding new productive forces. Strategic emerging industries such as advanced photovoltaics, new energy storage, new materials, equipment manufacturing, medicine and health, biomanufacturing, and aerospace information are among the priority areas for development.
Similarly, the Economic Work Conference of the Liaoning Provincial Party Committee proposed cultivating new driving forces for development as the top priority. This includes an accelerated focus on new materials, aerospace, robotics, new energy vehicles, integrated circuit equipment, and the development of future industries such as artificial intelligence, cell therapy, metaverse, and deep-sea exploration.
Other regions such as Guangdong Province, Hunan Province, and Henan Province are also making efforts to promote the cultivation and development of emerging industries and the forward-looking layout of future industries.
In addition to the focus on new industries, specific development goals and pragmatic measures have been put forward by various regions. For instance, Zhejiang Province aims to cultivate and build about 40 new industrial platforms by 2027, with an output value exceeding 100 billion yuan. Hunan Province plans to have the added value of high-tech manufacturing account for more than 20% of the manufacturing industry by the same year.
One example of successful development in focus industries is the Liuyang Economic Development Zone in Hunan, which has become the largest bio-pharmaceutical industry cluster in the region. Special policies have been introduced to promote the high-quality development of the biomedical industry, including support for technological innovation and the establishment of a special industry fund.
Emphasizing the importance of promoting industrial development through technological innovation, experts have stated that technological innovation is the core driving force for industrial development, and industrial development provides broad application scenarios and market demand for technological innovation. Local policies are encouraged to further strengthen the close integration of science and technology and the economy to ensure the connection between science and technology policies and industrial policies.
In light of these initiatives, the focus of evaluation in local economic development has also shifted towards the development of the real economy. Efforts are being made to cultivate local tax sources, encourage local governments to better develop the real economy, and pay attention to the development of emerging industries and future industries.
Overall, the comprehensive focus on new industries and technological innovation points towards a future-driven approach to local economic development, with a clear emphasis on nurturing and expanding emerging sectors to drive sustainable growth and prosperity.