Shanxi province was granted more support from the central government to achieve economic transformation as an energy resource-based economy, according to a guideline released by the State Council on Monday.
The document set goals on establishing a mechanism to bolster the economic transformation of Shanxi by 2020, when more coalmining and processing will be cut off, with advanced production capacity to increase by two-thirds of overall industrial value-added output.
By 2030, the region will set up a clean, safe and efficient modern resources system with support from many other industries to complete the transformation of the resource-based economy, according to the guideline.
Local governments are required to overhaul resource supplies and consumption, with efforts to guide cutting overcapacity, optimizing the industrial structure of energy resources and expanding the use of clean energy, including natural gas and hydropower.
The State Council also encouraged enterprises in coal, electricity, and transportation and other industries to conduct corporate restructuring or cross-shareholding, which will increase competitiveness.
The provincial government was encouraged to implement the strategy "Made in China 2025", which will focus on emerging industries in areas such as information technologies, new energy vehicles, aerospace and biological medicine. It was also urged to build a green manufacturing system, which targets transforming traditional industries to a greener and more environmental-friendly mode of operation.
The document also urged building demonstration bases in mass entrepreneurship and innovation, expand mixed ownership reform of State-owned enterprises, and promote the healthy development of the private economy.??
(China Daily 09/19/2017 page6)
