The NDRC has introduced two packages of industrial projects to attract more investment and speed up the development of emerging industries and manufacturing. China's top economic planner has launched 11 of those packages this year.
China's top economic planner introduced two packages of industrial projects at a press conference today. One of those aims to shore up emerging industries. Inside the package are project plans that range from new areas like information consumption, health technology to marine industry.
The NDRC says the projects aim to help emerging industries to overcome development challenges and achieve fast growth. The government will this by attracting more capital from the private sector to carry out these projects. Officials say they have high hopes that these projects will benefit people's daily lives in the future.
The NDRC also rolled out packages that boost the more traditional sector of manufacturing. Projects under this package cover sectors like railway transportation, high-end ship building, industrial robots and new energy vehicles.
The sector contributed to 1/3 of China's GDP and social fixed assets investment last year. Analysts say the latest packages could bring a new investment boom, which is needed as the Chinese economy faces increased pressure of a slowdown.