On July 9, 2012, the State Council issued the 12th Five Year Plan for the Development of National Strategic Emerging Industries. The plan was formulated to implement the Decision of the State Council on Accelerating the Cultivation and Development of Strategic Emerging Industries issued in 2010. The plan sets out detailed development goals, significant actions to be undertaken and major policies to be established for the strategic emerging industries which are energy conservation and environmental protection, new information technology, biotechnology, high-end equipment manufacturing, new energy, new materials and clean energy vehicles. In particular, the plan lists 20 major projects as development priorities. China hopes the strategic emerging industries will account for 8% of the country’s GDP by 2015 and 15% by 2020. Foreign investment is welcomed in these industries and projects. All preferential policies supporting the development of strategic emerging industries will also apply to eligible foreign invested enterprises.

The full Chinese text of the plan is available here.