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Home > News > Industry Activities > Sichuan Province, China Invested 1.02 Trillion RMB to Support the Development of Advanced Manufacturing

Sichuan Province, China Invested 1.02 Trillion RMB to Support the Development of Advanced Manufacturing

By CFM , 2019-03-25 12:00:00

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On March 21st, 2019, Sichuan Province, China announced important projects and name lists of enterprises that received special care, which included 500 important projects in the “5+1” industries. The total investment is 1.02 trillion RMB, relating to equipment manufacturing, advanced materials and energy and chemical industry.

Sichuan Province is located in the southwest of China. In 2018, its GDP was over 4 trillion RMB, with year on year growth of 8%. In 2018, Sichuan government put forward “5+1” modern industry system, which means 5 core industries worth of trillion RMB plus data economy. 5 core industries includes electronic information, equipment manufacturing, food and beverage, advanced materials, energy and chemical industry.

Mr. Liu Shaomin, deputy director-general of Sichuan Economy and Information Office, stated that this batch of projects were mainly in advanced manufacturing field. There are three features of these projects. First, it focuses on high-quality development, addresses week links, builds solid foundation, and upgrades advantageous industries which enable them to sell to mid-to-high end markets. Secondly, some projects are crucial to Sichauan industry strategies. Thirdly, traditional industries are being upgraded by new technologies, new commercial activities and new modes of operation, while new industries are being cultivated as a new engine for upgrading industries.

 

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