China Promotes Integration of Information Technology and Industrialization

To speed up the development of a strong manufacturing industry and promote a deep integration of information technology and industrialization, the Ministry of Industry and Information Technology of China (MIIT) issued the Information Technology and Industrialization Integration Development Plan (2016 -2020) (the Plan) on November 3, 2016, following the lead of the National Economic and Social Development 13 th Five Year Plan of China and the Made in China 2025 strategy. The Plan aims to further raise the development level of the integration of information technology and industrialization, and make significant progress in digitalization, network utilization, and intelligence in the manufacturing industry, by 2020. As supporting measures, the Plan calls on the government to increase support of government funds in key projects and improve tax incentives for high-tech companies, incubators, and R&D projects, and calls on both policy financial institutions and commercial financial institutions to increase financial support to key areas.