China: Trillions To Be Injected Into Key Industries

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China: Trillions To Be Injected Into Key Industries

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Beijing will inject more than 4 trillion yuan ($600 billion) into key industries and inland regions as part of the new five-year economic plan, South China Morning Post reported Oct. 15, citing two unnamed officials involved in its drafting. China will also lower the economic growth rate and focus more on structural adjustments in its blueprint for 2011 to 2015. The officials said the government would spend the money to provide financial support, including tax cuts and exemptions, to nine industries deemed strategically significant to the national economy, including new energy, new materials, information technology, biology and new medicine, energy conservation and environmental protection, aerospace, marine, advanced manufacturing, and hi-tech services industries. China is also looking at replacing its 10-year Go-West program.

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