China's six emerging pillar industries are expected to surpass 10 trillion yuan (1.45 trillion U.S. dollars) in total value in 2030, Zheng Shanjie, head of the National Development and Reform Commission, said Friday at a press conference on the sidelines of the fourth session of the 14th National People's Congress.
"The six emerging pillar industries include integrated circuits, aviation and aerospace, biomedicine, low-altitude economy, new types of energy storage, and intelligent robots. At this year's Spring Festival Gala, for instance, our robots were not simply giving a show, they also demonstrated substantial technological sophistication," Zheng told reporters.
"Preliminary estimates indicate that the output value of these six industries approached six trillion yuan in 2025. It is projected that by 2030, this figure is expected to double or more, expanding to over 10 trillion yuan," he said.
Zheng also introduced China's six future industries and the key projects to be invested in the next five years.
"The six future industries encompass quantum technology, biomanufacturing, green hydrogen and nuclear fusion energy, brain-computer interfaces, embodied intelligence, and the now-emerging 6G. These industries are on the eve of technological breakthroughs. The future industries of today may well become tomorrow's emerging pillar industries," he said.
"In fields such as integrated circuits, satellite internet, homegrown large passenger planes, and the national integrated computing power network, we are constructing a batch of major, long-chain, large-scale projects. The investment scale for these projects will reach hundreds of billions or even trillions of yuan, aiming to forge a number of national strategic assets that lay a solid foundation and benefit long-term development," Zheng said.
China's emerging pillar industries to surpass 10 trln yuan in 2030: official
Tokyo stocks ended lower Monday, with the benchmark 225-issue Nikkei Stock Average falling around 1 percent, amid concern that the surging yen could disrupt companies' business outlooks, said an analyst.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 607.12 points, or 0.94 percent, from Friday at 63,754.90.
The broader Topix index, meanwhile, finished 43.27 points, or 1.08 percent, lower at 3,960.03.
The Japanese yen rose sharply on Monday, briefly surging to the lower 155 yen range against the U.S. dollar, after Japan confirmed joint currency market intervention with the United States and possible further intervention.
The U.S. dollar fetched 156.76-78 yen after briefly hitting 155.20 yen, compared with 157.33-43 yen in New York and 160.20-22 yen in Tokyo at 17:00 local time Friday.
"Over in Tokyo, the big story was of course the rare joint action by Japan and the U.S. to support the yen, which had been trading near 40-year lows in recent weeks. Japan's finance ministry confirmed that coordinated intervention today and said the two countries are prepared to act on that again. The yen rose as much as 1.4 percent at one stage and the Nikkei 225 fell around 1 percent. The stronger currency was weighing on exporters. There we had Suzuki Motor down 6.7 percent. Many Japanese-listed companies earn a substantial share of their revenues overseas, and a stronger yen reduces the value of those earnings when they are translated back into the Japanese currency. AI-linked stocks also weighed on the market, with the chip-testing-equipment maker Advantest down 3.3 percent," said Timothy Pope, a Shanghai-based market analyst for China Global Television Network (CGTN).
Pope said that in the rest of the week, investors are going to watch closely the earning reports to be released by the major companies.
"Tokyo has some major earnings to watch this week as well. So, we will be following Toyota, Nintendo and SoftBank -- all of them are due to report. SoftBank's results will be watched particularly closely for further clues about the returns, the risks as well as all of those associated with the enormous sums being invested in AI at the moment," said Pope.
Tokyo stocks end lower Monday on stronger yen: analyst
