China publishes first industrial restructuring plan

The State Council, or cabinet, on Wednesday published its first mid- to long-term industrial restructuring and upgrading plan.

China targets an 8-percent growth in value-added for all industries over the next four years, a 2-percentage-point rise in value-added ratio from the end of 2010, and a 10-percent annual increase in overall labor productivity, according to the Industrial Restructuring and Upgrading Plan (2011-2015) published on the central government's website.

As for major industrial enterprises, expenditure on research and development will account for at least 1 percent of their revenues. The proportion will rise to at least 3 percent for key industrial enterprises, and they will double the number of patent ownerships over the next four years, according to the plan.

China aims to see a better industrial structure, with value-added of emerging industries accounting for 15 percent of the country's total value-added by 2015.

Meanwhile, the nation aims to see a fall in pollution and work-related accidents. Energy consumption per unit of value-added should drop by 21 percent from the end of 2010, while water consumption of value-added should slide 30 percent, according to the plan.