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China to speed up new infrastructure development

Updated: Apr 30,2020 10:49 AM

China will speed up new infrastructure development, including information networks, to boost industrial and consumption upgrade and drive forward innovation and employment, according to the State Council executive meeting on April 28.

Despite the negative impact brought by COVID-19 on many industries, the value-added of the information transmission, software, and information technology services have seen double-digit growth in the first quarter, driving GDP growth by 0.6 percentage points.

Industries relating to information networks play a big role in driving consumption and innovation, and their importance has been fully displayed in fighting the epidemic and ensuring supplies, Premier Li said.

He called for efforts to promote construction of new infrastructure such as information networks, innovate investment, and construction models, adhere to market-based investment, support participation of diverse entities, and encourage financial institutions to develop new products and step up services.

The government needs to enhance guidance and support for entry of private and social capital, and provide more convenience, he added.

Premier Li said that it is important to stay market-oriented and focus on application of new infrastructure facilities.

Expanding application scenarios is essential, as it will cultivate beneficial circulation and boost consumption and investment, he added.

Currently, China has over 1.5 billion mobile phone users and 900 million internet users. Premier Li asked related departments to strengthen detailed analysis of market demands and tap into the domestic market’s great potential.

Those at the meeting decided to guide different parties to co-build the industrial internet, promote application of online working, distance education, telemedicine, smart vehicles, and smart cities.

Efforts will also be made to encourage two-way openness and cooperation between the communications sector and related industries to build a good environment for developing the platform economy and industry integration.

Personal privacy, internet and data safety should be protected, and international cooperation in related fields will be strengthened to obtain win-win results and mutual development.

Finally, the Premier stressed efforts to expand coverage of application scenarios, in order to meet people’s demands for digital consumption, create more businesses and jobs, and cultivate sustainable new drivers for economic upgrading.