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China Subsidy Exchange

September 26, 2016

China Boosts Smart Hardware Development

On September 21, the Ministry of Industry and Information Technology of China (MIIT) published a three-year plan jointly with the National Development and Reform Commission (NDRC) for the smart hardware industry, the Smart Hardware Industry Innovation Development Special Action (2016-2018) (the Plan), at its website. Smart hardware is an internet terminal product that has the ability of collecting, processing, and connecting information and performing such functions as IntelliSense, interaction, and big data services. The Plan aims to have a 30% share in the global market by 2018 for the Chinese smart hardware industry, with an industrial scale over RMB 500 billion. The Plan calls for increasing the supply of high-end smart hardware such as smart wearable devices, smart car accessories and parts, smart healthcare devices, smart service robot, and industrial-level smart hardware equipment, strengthening the innovation of key technologies, and promoting the application in key areas. To ensure the implementation, the Plan calls on the government to utilize existing government funds to support the smart hardware industry, establish smart hardware industry guidance and investment fund, guide social funds to invest in smart hardware industry, and support qualified firms to obtain financing through IPO.

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