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State Council supports Shanxi to promote economic transformation

Updated: Sep 11,2017 7:23 PM

The State Council has issued a guideline on promoting Shanxi as an energy resources-based economy, to achieve economic transformation.

 The plan set goals on establishing a mechanism to bolster the economic transformation of Shanxi by 2020, with more coal mining and rough coal processing being slashed, while gradually increasing advanced coal capacity to account for two-thirds of the overall industrial value-added output.  

By 2030, a clean, safe and efficient modern resources system should be established, featuring the support of many industries with their complementary economic advantages, and basically complete the transformation of the resource-based economy, according to the plan.

To achieve these targets, local government should promote a revolution in resource supplies and resource consumption, with efforts to guide the reduction in overcapacity, optimize the industrial structure of energy resources, and boost the use of clean energy, such as natural gas, electricity and renewable energy.

The State Council also urged deepening the reform on the mechanism of energy resources, which encouraged enterprises in coal, electricity, and transportation and other industries to conduct corporate restructuring or cross-shareholding, in a bid to sharpen the competitive edge of the whole industry chain.

Meanwhile, Shanxi government was encouraged to implement the “Made in China 2025” strategy, develop emerging industries and advanced products in information technology, new energy vehicles, aerospace and biological medicine, and other fields, and build a green manufacturing system, targeted at transforming traditional industry in a green and ecological way.

The plan urged strengthening coordinated innovation in Shanxi province, supporting the construction of national demonstration bases in mass entrepreneurship and innovation, and promoting the innovative development of an economic development zone in the region.

The government also was urged to mull over plans to rejuvenate State-owned enterprises, expand mixed ownership reform in more State-owned enterprises, and promote the healthy development of the private economy.