BEIJING, May 31 (Xinhuanet) -- More reforms afoot to counter China's slowdown. The State Council has adopted a plan to boost the development of seven strategic emerging industries through to 2015.
A statement was released following an executive meeting chaired by Chinese Premier, Wen Jiabao, and this is what it says: the development of China’s strategic emerging industries is of great significance, in terms of maintaining long-term and steady economic growth.
It also notes China will launch 20 major projects related to these industries, which include energy-saving and environmental protection, IT, biology, advanced equipment manufacturing, new energy, new materials and new-energy vehicles.
China’s economy grew at its slowest pace in almost three years in the first quarter this year, with GDP expanding 8.1 percent and don’t forget that a string of economic indicators in April suggested further economic weaknesses.