Li: Expand information networks

Key meeting calls for infrastructure to boost industrial growth, consumption

China will expedite new infrastructure development, including information networks, in an effort to boost industrial growth and upgrade consumption. The decision was made on Tuesday at the State Council's executive meeting chaired by Premier Li Keqiang.

Attendees agreed at the meeting that accelerating the development of information networks and other new infrastructure facilities catalyzes the growth of many sectors. This initiative will contribute to industrial upgrading, foster new growth drivers and create more jobs, thus meeting current needs and serving long-term interests.

"Enhancing new infrastructure development, including information networks, is a proactive approach to boosting effective investment. Online home offices and telemedicine enabled by information technology have played a big role in the COVID-19 response," Li said.

Construction of information networks and other new types of infrastructure should be advanced in light of development needs and the potential of industries. A new investment model for construction will be applied in which market-driven investment plays a bigger role, participation of many entities is supported, and financial institutions are encouraged to improve services through innovation. The government will further facilitate these investments through guidance and support.

"New industries powered by information technology can significantly catalyze consumption and investment. Their growth will help meet current needs and contribute to long-term development," Li said.

Those at the Tuesday meeting called for proactively expanding the use of new infrastructure in the domestic market. Multi-pronged efforts will be made in boosting development of the industrial internet by targeting industrial upgrading and smart manufacturing. Consumption demand in the digital economy will be catered to, further boosting online home offices, distance education, telemedicine, internet-enabled vehicles and others.

"It is essential to unlock the potential of the market and bring out its role as much as possible. The government is not going to get itself involved every step of the way. Application is key to the development of information networks, and the market plays a vital role in shaping application. With our market potential, it is important to stay market-oriented and focus on application, and to attract private investment in this process to boost consumption and foster a virtuous circle. This has always been part of the driving force for China's economic growth," Li said.

The meeting urged two-way openness and cooperation between the telecommunications industry and other industries to break industrial barriers in application. This will create an inclusive environment for the growth of a platform economy. At the same time, the protection of personal privacy and network and data security will be enhanced.