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Hunan Regulation on Promoting Advanced Manufacturing Takes Effect
The Advanced Manufacturing Promotion Regulation of Hunan Province took effect recently. It is China’s first local regulation on promoting advanced manufacturing. According to the regulation, Hunan will give priority to building advanced manufacturing industrial clusters in the sectors of construction machinery, rail transit equipment, medium and small-sized aero-engine, aerospace equipment and electronic information, new materials, new energy and energy conservation, and power transmission and transformation equipment. Work will be done in boosting transformation and upgrading of traditional advanced industrial clusters of petrochemical, nonferrous metals, automobile, smelting and processing, and agricultural machinery. Some future and emerging clusters will be fostered, including artificial intelligence (AI), industrial internet, eco-environment protection, biotechnology, medicines, and medical devices.
The regulation gives a long-term support to institutionalizing the practices in manufacturing development, stabilizing expectation of the market participants, and providing long-term and firm institutional support to the development of advanced manufacturing. It also specifies provisions in land use, capital, talent, business environment, and working mechanism, to guarantee the factors of production and make the enterprises feel reassured.
Hunan is a manufacturing powerhouse, with 31 major industrial categories and three trillion-yuan and forteen 100-billion-yuan industrial clusters. In 2021, Hunan’s industrial enterprises above designated size made an 8.6% increase in added value over the previous year. They had contributed more than 30% tax revenue and created more than 30% new jobs of the provincial total, which laid a solid foundation for the provincial economic and social development. However, progress is needed in scale, quality, technical innovation, and industrial ecology for Hunan’s manufacturing industry. In order to achieve the goal of building an advanced manufacturing hub of national importance, Hunan is necessary to reinforce top-level design and institutional support through legislation, and motive and coordinate forces of all sectors, so as to make converted efforts province-wide to promote the development of manufacturing industry.
This article is from Hunan Provincial Government www.enghunan.gov.cn.
Translator: Pang Yuehui
Chinese source: hunan.gov.cn
The regulation gives a long-term support to institutionalizing the practices in manufacturing development, stabilizing expectation of the market participants, and providing long-term and firm institutional support to the development of advanced manufacturing. It also specifies provisions in land use, capital, talent, business environment, and working mechanism, to guarantee the factors of production and make the enterprises feel reassured.
Hunan is a manufacturing powerhouse, with 31 major industrial categories and three trillion-yuan and forteen 100-billion-yuan industrial clusters. In 2021, Hunan’s industrial enterprises above designated size made an 8.6% increase in added value over the previous year. They had contributed more than 30% tax revenue and created more than 30% new jobs of the provincial total, which laid a solid foundation for the provincial economic and social development. However, progress is needed in scale, quality, technical innovation, and industrial ecology for Hunan’s manufacturing industry. In order to achieve the goal of building an advanced manufacturing hub of national importance, Hunan is necessary to reinforce top-level design and institutional support through legislation, and motive and coordinate forces of all sectors, so as to make converted efforts province-wide to promote the development of manufacturing industry.
This article is from Hunan Provincial Government www.enghunan.gov.cn.
Translator: Pang Yuehui
Chinese source: hunan.gov.cn