THE 17th Investment and Trade Seminar Zhejiang China will be held in Ningbo from June 8 to June 12. A series of significant industrial strategies and important investment policies will be unveiled on the site.
This year, the Zhejiang government work report has earmarked seven key industries for development, namely information, environmental protection, health care, tourism, fashion, finance and advanced equipment manufacturing industries. At the symposium, these industries will be the main investment focus from home and abroad.
Information industry
It will be the main thrust of Zhejiang Province, boosting the development of cloud computing, big data, and Internet of things further. Meanwhile, the government was keen to improve e-commerce, software and information product manufacturing industries.
Cities are now focusing on developing information economy which is based on e-commerce. In Hangzhou, where Alibaba has its base, a cross-border e-commerce pilot zone is under construction, which aims to make cross-border e-commerce trade more liberalized, convenient and standard.
In 2014, the online business revenue in Zhejiang Province reached 564.2 billion yuan (US$91.04 billion), which was up by 47.6 percent compared to 2013.
In the same year, e-commerce revenue exceeded 2 trillion yuan with a year-on-year growth of 25 percent.
Today, 85 percent of China's online business, 70 percent of cross-border e-commerce and 60 percent of B2B e-commerce trade is achieved from Zhejiang Province's e-commerce platforms.
The average annual development speed of the province's IT industry is more than 25 percent.
Environmental protection industry
It provides the material basis and technological support for saving energy resources, developing a sustainable economy and protecting ecological environment. It is also expected to be a strategic industry for economic upgrading and transformation.
A lot of countries have already listed it as a strategic emerging industry, which means it is an opportunity for Zhejiang to develop this industry. The industry features broad fields, long industrial chains and obvious stimulating effect.
Zhejiang's environmental protection industry tops the list in the country. By 2017, its revenue is expected to reach 1 trillion yuan with average annual growth of 15 percent.
Health care industry
Zhejiang Province also offers ideal conditions for the development of the health care industry, which not only enhances people's health and quality of life, but also develops the economy healthily.
The Zhejiang government said it would focus on developing medical service industry, energizing profit-making hospitals and boosting the production and processing of traditional Chinese medicines.
Tourism industry
Last year, Zhejiang's tourism revenue reached 630 billion yuan with a growth of 13.8 percent from a year earlier. It brought in revenue of US$5.75 billion from overseas tourists. It received 479 million domestic tourists who spent 594.7 billion yuan. By the end of 2014, Zhejiang had invested 444.96 billion yuan in building 42 tourist projects.
This year, Zhejiang has begun to forge an image of poetic Jiangnan (lower reaches of south Yangtze River). Eco-tourism, marine tourism, health travel, and sports leisure travel are being actively promoted. In addition, self-driving and custom-made tour is becoming a new lifestyle for tourists.
Fashion industry
Zhejiang is also trying to develop the fashion industry into a trillion-level industry establish a competitive fashion industrial base, form an industrial chain and transform the province from a traditional manufacturing center into a creative industry center.
The fashion industry is expected to achieve 650 billion yuan in revenue and cultivate at least 100 famous fashion brands and 100 top-notch designers. Meanwhile, Hangzhou, Ningbo and Wenzhou will become influential fashion bases.
Finance industry
Last year, the finance industry grew 8 percent year on year, earning a staggering revenue of 293.4 billion yuan.
The stock and futures transaction volume in 2014 reached 20.79 trillion yuan and 61.21 trillion yuan, accounting for one tenth of the overall trade in China.
The government has set a revenue target for the finance industry 1.2 trillion yuan by 2017 and 1.6 trillion yuan by 2020, which respectively will account for 8.5 percent and 9 percent of the gross domestic product.
Advanced equipment manufacturing industry
The output of Zhejiang's advanced equipment manufacturing industry is expected to reach 1.1 trillion yuan by 2020 estimated to be 25 percent of the equipment manufacturing industry thus becoming China's key advanced equipment manufacturing base.
Today, Zhejiang already boasts solid industrial basis, industrial cluster and favorable developing environment. Last year, output of equipment manufacturing industry reached 2.22 trillion yuan, up 8.3 percent compared to 2013.
Zhejiang plans to put emphasis on new energy automobile, high-end ship equipment, photovoltaic equipment, energy-saving environmental equipment, intelligent textile dyeing equipment, modern logistics equipment, agricultural equipment, modern medical apparatus and instruments, and artificial intelligence.
By 2020, 50 high-tech industrial bases with high creativity and competitiveness would be built and 10 modern industrial parks would be constructed in Zhejiang.
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THE 17th Investment and Trade Seminar Zhejiang China will be held in Ningbo from June 8 to June 12. A series of significant industrial strategies and important investment policies will be unveiled on the site.
