China state planner and CCB team up for emerging industries
(12 June 2018 – China) Mainland China’s top economic planning body, the National Development and Reform Commission (NDR) has partnered with state lender China Construction Bank to start a US$47 billion fund to invest in emerging industries.
The initiative comes as China aims to nearly double the contribution of emerging industries to its economy to 15 percent by 2020, up from 8 percent in 2015.
In the state blueprint, it is envisioned that sectors such as advanced manufacturing and life science could each create at least 1 million jobs annually in the five years to 2020. China’s new-energy vehicle deliveries, including electric cars and hybrids are also expected to continue increasing.