According to official sources, the core principle of the Strategic Emerging Industry Guidance Catalogue is centered on "major technological breakthroughs." The catalogue is structured into seven key sectors: energy conservation and environmental protection, next-generation information technology, biotechnology, high-end equipment manufacturing, new energy, new materials, and new energy vehicles. It encompasses 139 critical product and service areas across these industries.
The primary goal of this guidance catalogue is to clearly define the scope of the seven strategic emerging industries and address the current ambiguity surrounding their classification. Similar to the industrial structure adjustment guidance catalogue, it will serve as a framework for government-managed investment projects and will support the implementation of crucial fiscal, tax, credit, land, and trade policies, according to an official from the National Development and Reform Commission (NDRC).
As part of the planning process, with the introduction of specific industry catalogues, the government is expected to enhance policy support in areas such as finance, taxation, and investment. Additionally, companies that win demonstration projects in emerging industries will gain priority in setting industry standards. Industry insiders suggest that this focus has motivated many firms to actively pursue advanced technologies in hopes of being included in the final list.
The previous draft of the "Guidance Catalogue of Key Products and Services for Strategic Emerging Industries" outlined sub-sectors like next-generation information technology and biotechnology. For instance, the biotech sector includes 32 key areas, such as modern Chinese medicine, new vaccines, biopharmaceuticals, chemical drugs, biological separation media, and medical devices. Among these, 18 are focused on pharmaceuticals, including new vaccines, biotech drugs, chemical APIs, traditional Chinese medicines, and more.
Analysts noted that the key product catalogues released by the NDRC represent a condensed version of previously announced segments, aligning closely with market expectations. In the context of economic slowdown, the government's initiative aims to boost market confidence through strategic emerging industries, which is vital for long-term economic stability and growth.
An official from the NDRC emphasized that the catalogue will serve as a crucial reference for managing investment projects and formulating relevant policies. Recent research conducted by state ministries and experts across various provinces highlighted the importance of increasing financial and scientific investment to support emerging industries.
Experts suggested that local governments should ensure that increases in fiscal technology funding outpace overall fiscal revenue growth, focusing on key industries and priority areas. According to Zhang Bin from the Tax Research Office of the Chinese Academy of Social Sciences, future fiscal policies will emphasize innovative financial support and aim to establish a diversified, multi-channel technology investment system. This could include subsidies, funds, and discounts tailored to emerging industries.
Under the broader framework, regulatory bodies like the China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission are set to introduce and refine supportive policies for emerging industries. Recent visits by banking authorities to the Ministry of Science and Technology have underscored the need for closer collaboration between the financial and science sectors.
In an interview, banking officials stressed that the key to integrating emerging industries with finance lies in effective financial innovation. Since banks traditionally favor secured loans, they must first improve their understanding of emerging sectors and then explore new loan structures to better support them.
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