China Issues Policy to Boost Traditional Industries, Targets 50 Billion-RMB Leaders by 2028

Historic classic industries refer to traditional Chinese industries with deep cultural heritage, including silk, tea, porcelain, traditional Chinese medicine, brewing, arts and crafts, and the four treasures of the study. The Ministry of Industry and Information Technology and five other departments issued the Guidelines on Promoting the High-Quality Development of Historic Classic Industries, the first systemic industrial policy specifically for these sectors. Historic classic industries and intangible cultural heritage share the same origins and develop together. China ranks first in the world in the number of items on UNESCO's intangible cultural heritage lists and registers, with total intangible cultural heritage resources approaching 870,000. The arrangements propose that by 2028, 100 Chinese consumer brands will be shaped, 50 leading enterprises with revenue of RMB 10 billion each will be cultivated, and several distinctive industrial clusters with a scale of RMB 100 billion will be built. Taking lingzhi as an example, after the publication of an international standard, China's average export price of lingzhi increased by 107%, and export value grew by 285% year on year.