By Zhang Huizhong from People’s Daily
Chinese Premier Li Keqiang clarified the work priorities of Chinese government in the coming year in the government work report he delivered on March 5. Analysts believed that it also offered China and the world an glimpse into the promising business sectors they can invest in.
1. Sharing economy
The sharing economy sector saw deals worth some 3.45 trillion yuan ($500 billion) last year. Before the government work report made clear to support and guide the development of the sharing economy, the National Development and Reform Commission also solicited public advice on a sharing economy guideline. The sector is believed to meet greater opportunities.
2. Sports industry
China has incorporated the hosting of 2022 Winter Olympics into the synergetic development plan of Beijing, Tianjin and Hebei province. The country’s plan to encourage 300 million Chinese people to participate in ice sports will definitely promote the development of China’s winter sports industry. In addition, China’s national fitness strategy calls for the construction of new fitness trails and sports facilities, which will serve as a new chance for the development of sports industry.
3. Emerging industries
The government work report proposed to accelerate the research and development, as well as upgrade of the technologies such as artificial intelligence (AI) and 5G, indicating the prosperity of emerging industries. The value of China’s AI market is expected to hit 9.1 billion yuan by 2020. In addition, the application of 5G technology will not only usher communication industry into a new booming round, but also leverage a number of trillion-yuan emerging sectors.
4. Smart manufacturing
The output of China’s smart manufacturing is expected to reach 3 trillion yuan by 2020. According to the government work report, China plans to further implement the strategy of “Made in China 2025″ and take smart manufacturing as a priority. Smart manufacturing may brace for a broader space in the future.
5. Digital home network
“Digital home network” is one of the new words in this year’s government work report. It is able to bring medical, e-government and e-commerce services to families by linking and managing the digital devices household-wide. The report proposed to expand consumption on digital home network, affirming the importance of its development on policy level.
6. Combination of medical and nursing care
China’s increasing aging population has resulted to a larger size of nursing industry. The need to combine medical and nursing care, and facilitate the elderly with continuous, in-time and professional services has become more and more urgent. The combination of medical and nursing care is encountering a historic opportunity.
7. Clean energy vehicles
According to the report, the government has made detailed requirement on vehicle management as part of the efforts to make the sky blue again. With more construction of infrastructure such as charging poles, clean energy vehicles will become the choice for more and more people.
8. All-in-one tourism
By integrating regional resources, an all-in-one tourism model can better protect the environment of scenic spots while developing local tourism resources. The cost-effective model will be a new trend in the future.
9. E-commerce and express delivery
The turnover of China’s online retailing sector in rural areas amounted to 894.54 billion yuan in 2016, accounting for 17.4 percent of the country’s total. Some enterprises have already expanded their business in rural areas, extending e-commerce and express delivery services to the countryside. Cost reduction and personnel training require a long process which generates abundant opportunities.
10. Renewable energy
To increase the use of renewable energy is crucial for smog treatment and pollution control. In the work report, Chinese government has required to fill subsidy gap, make plans to build ancillary facilities and promote renewable energy services. It will bring vast opportunities for the investors.