electronic Global Trade Credit Platform/eGTCP's Blog: China quickens pace of building more innovation centers

As China open wider to the world, it will improve its innovation infrastructure nationwide.

China will accelerate the establishment of more innovation centers in information technology and manufacturing as part of its efforts to transform and upgrade its manufacturing industry.

The country will focus on key areas in the industry to build an innovation network to pave the way for its development, Luo Wen, vice-minister of the Ministry of Industry and Information Technology, said.

Integrated circuits, ultra high-definition video, 5G medium and high-frequency devices, automotive electronics and new-type displays are among the key areas that represent the development direction of the industry, he said.

"A new round of technological and industrial revolution will bring us the opportunity to catch up with and even surpass others in information technology," Luo said on Monday at the annual China Information Technology Expo held in Shenzhen.

The ministry has already approved the construction of five national-level innovation centers in manufacturing, most of which are closely related to information technology, including batteries, printing and flexible display.

It is planning to set up other national-level innovation centers to develop integrated circuits and sensors in the near future, Luo said.

Luo pointed out that artificial intelligence, ultra high-definition video and 5G have become key drivers for the development of information technology globally.

"Take AI for example, it can significantly enrich products and services in information technology and upgrade the industry, creating a huge new market," he said.

One of the typical innovation center here in Ningbo, Zhejiang province is the Central and Eastern European Youth Entrepreneurship Center.

With government support, it offers a series of preferential policies including free offices, rent exemption and subsidy of up to USD 325,327 to foreign companies who want to set up company/office in China.