(Yicai) Jan. 17 -- Several Chinese provinces have clearly outlined their industrial growth targets for this year during the Two Sessions, the annual meeting of their top legislative and political advisory bodies, or official industry and information technology meetings.

Shandong set the growth rate of the added value of industrial enterprises above the designated size to over 6 percent this year. The Chinese eastern province also said it aims to initiate around 12,000 technological upgrade projects worth over CNY5 million (USD682,350) each, which will boost its technology investment by 7 percent.

Moreover, Shandong expects the digital transmission coverage rate of its industrial enterprises to exceed 94 percent.

Guangdong plans to achieve a 6 percent growth in industrial output value this year, up 1 percentage point from the southern province’s gross domestic product growth target and the highest among its key economic and social development goals. Last year, Guangdong’s value-added of industrial enterprises above the designated size rose 4.2 percent.

Central Hunan province set its annual industrial output growth goal at 6.5 percent.

Meanwhile, various provincial-level regions also released strategic plans for future industries.

Jiangsu intends to build a modern industrial system, accelerate equipment upgrades and technological transformation in the industrial sector, and implement special initiatives to cultivate advanced manufacturing clusters. The Chinese eastern province also aims to guide national and local industrial funds toward developing advanced manufacturing.

Hunan will focus on fostering new industries, such as lithium battery materials, new energy, low-altitude economy, and emergency response. Its goal is to produce over one million new energy vehicles this year and explore mechanisms to increase investments in artificial intelligence and life sciences.

Guangdong will continue to build a modern industrial system, accelerating the development of emerging and future industries.

The province will speed up the growth of the semiconductor, integrated circuit, and high-end equipment manufacturing industries and explore new economic growth drivers in fields such as AI, low-altitude economy, commercial aerospace, and bio-manufacturing, with forward-looking plans for sixth-generation network, quantum technology, and life sciences, said Tu Gaokun, director of Guangdong’s industrial and IT department.

Hubei launched a new industrial productivity cultivation project to seize future competitive advantages. It plans to accelerate the development of emerging industries by deepening collaboration between the government, enterprises, and research institutions and promoting the integrated development of industrial, supply, and innovation chains.

While the industrial economy will face challenges brought about by complex internal and external environment this year, China’s complete industrial system, large market size, and robust information infrastructure will provide substantial advantages, according to analysts. The long-term positive trend of industrial growth is expected to remain unchanged.

Editor: Futura Costaglione