Asia IP

China's northwestern province Gansu plans to allocate funds of RMB 500 million (US$80.6 million) to support the growth of new strategic industries this year, according to the provincial government.

The province aims to achieve a more than 15% growth this year, in terms of the value added of new material, new energy, biology industry, information technology, high-tech device manufacturing, energy saving and environment protecting, new coal chemistry and modern services industries. The task has also been set for these industries to account for 12% of the province's total GDP this year, according to a report conducted by the Chinese-language publication, Economic Daily.

The provincial authorities will encourage the growth of selected key enterprises in those industries as a springboard for the improvement of the overall competitive edge of Gansu's industries, according to the report.

To implement the plan, the province will map out a three-year action plan to promote the growth of small and medium-sized enterprises in those industries. It will also launch pilot programs involving the integration of multiple strategic industries and promote the construction of five demonstration zones in a number of key sectors, reported China Daily.

Gansu will also launch a plan to promote the application of scientific research to ensure its transformation into an industrial output. To that end, the province will set up key laboratories and research centers and establish patent information platforms for key industries concerned, according to the report.

The industrial program also involves the building of more than 20 research centers and laboratory platforms at a provincial level to develop about 120 new products, crafts and types. The number of patents belonging to key industries is expected to increase by more than 15 percent this compared to 2014, according to the provincial plan.