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Shanxi provincial government holds a press conference on the upgrading of local companies in Taiyuan on March 28. [Photo/people.com.cn] |
Shanxi has recently released a plan to encourage companies to upgrade their techniques by utilizing new technologies and operating patterns, according to a press conference held by local government on March 28.
The province has set up a special fund worth 1 billion yuan ($145.12 million) to support businesses attempting to modernize their methods of production and services.
The plan for business modernization is divided into two parts ––expanding emerging industries and transforming traditional industries by introducing and applying advanced technologies.
Shanxi will focus on intelligent manufacturing and carry out eight special projects, involving technical innovation and ecofriendly manufacturing, to optimize the industrial structure of the province.
Shanxi has set a target that the techniques and equipment of 60 percent of businesses in local key industries will be national leaders in their sectors, coinciding with cleaner production and improvements of resource and energy utilization, as well as company safety during the 13th Five Year Plan period (2016-2020).
Investment to upgrade industries is also expected to increase during the period with annual growth reaching 12 percent on average.
