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China publishes first industrial restructuring plan

Source:   Time:

BEIJING, Jan. 18 (Xinhua) -- The State Council, or China's Cabinet, on Wednesday published its first mid- to long-term industrial restructuring and upgrading plan.

China targets an 8-percent growth in value-added output for all industries over the next four years, a 2-percentage-point rise in the value-added ratio from the end of 2010, and a 10-percent annual increase in overall labor productivity, according to the Industrial Restructuring and Upgrading Plan (2011-2015) published on the central government's website.

As for major industrial enterprises, expenditure on research and development will account for at least 1 percent of their revenues. The proportion will rise to at least 3 percent for key industrial enterprises, and they will double the number of patent ownerships over the next four years, according to the plan.

China aims to see a better industrial structure, with the value-added output of emerging industries accounting for 15 percent of the country's total value-added output by 2015.

Meanwhile, the nation aims to see a fall in pollution and work-related accidents. Energy consumption per unit of value-added output should drop by 21 percent from the end of 2010, while water consumption of value-added output should slide 30 percent, according to the plan.

Industrial enterprises should enhance their abilities to self-innovate, use advanced technologies to transform traditional businesses, promote energy conservation and eliminate outdated capacity.

The enterprises are also encouraged to improve product quality, produce high value-added goods, create local brands, raise competitiveness, and explore overseas markets.

Over the next four years, the country will focus on developing the equipment manufacturing industry, optimizing the raw material industry, upgrading the consumer goods industry, improving the competitiveness of the electronics industry, and promoting the development of service industries closely related to industrial production, according to the plan.

China's industrial value-added output growth decelerated to 13.9 percent year-on-year in 2011, the National Bureau of Statistics said Tuesday.

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