Chinese provinces plan to support emerging, future industries in 2024

BEIJING - Numerous Chinese provinces have mapped out blueprints to beef up support for tech-intensive industries and foster new growth momentum or "new productive forces" that feature innovation, high-quality and advanced productivity.

In their annual government work reports delivered at this year's local "two sessions," regional policy-makers unveiled clear signals on where China's economic landscape will be shifting in the years to come.

Many provinces have highlighted the production of new energy vehicles (NEVs), which is among the fastest growing sectors in the country, as one of their major industrial goals.

More energy storage facilities featuring next-generation battery technology are projected to be built in Anhui and Guangdong to facilitate the utilization of growing renewable power amid the country's efforts to pursue low-carbon development.

China's installed new-type energy storage capacity had reached 31.39 gigawatts by the end of 2023, according to the National Energy Administration.

Many provincial-level governments have drawn up projects to promote intelligent and digital know-hows in the manufacturing industry, and not a few are planning to build green plants and industrial parks bolstered by low-carbon supply chains.