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China Subsidy Exchange

January 23, 2017

China Issues Guidelines to Boost the Development of the Information Industry

On January 16, 2017, the Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) jointly issued the Information Industry Development Guidelines (Gong Xin Bu Lian Gui (2016) No. 453) to boost Chinas development of the information industry during the 13 th five year period, i.e., 2016 to 2020. The Plan aims to establish a safe and controllable information industry dynamic system with international competitiveness. In particular, the Plan sets the target of average revenue growth rate of 8.9% for the whole information industry, of which, the electronic information manufacturing industry shall have an average annual growth rate of 5.8%, the software and information technology service industry shall have an average annual growth rate of 13.2%, and the information and communications industry shall have an average annual growth rate of 15.5%. The Plan especially supports the development of the following key areas: integrated circuit; basic electronic components; basic software and industrial software; key application software and industrial solutions; smart hardware and application electronics; computers and communication devices; big data; cloud computing; and internet of things. To effectuate the targets, the Plan calls for using government policy funds, guiding private funds, and implementing preferential tax policy to support the information industrys development. The Planalso encourages both policy banks and commercial banks to increase financial support to the information industry.