Six Ministries Plan 50 Top Firms by 2028 to Boost Heritage Industries
China's six ministries issued a plan to develop historical classic industries, targeting 50 leading enterprises with annual revenue of RMB 10 billion each and several industrial clusters worth RMB 100 billion by 2028. The sectors, including silk, tea, porcelain, and traditional medicine, employ nearly 3.5 million people and generate about RMB 8 trillion in annual revenue.
At a press conference held by the State Council Information Office on September 7, Vice Minister of Industry and Information Technology Xie Yuansheng said that, according to incomplete statistics, the number of enterprises above designated size in representative historical classic industries reached 25,000, employing nearly 3.5 million people. The industries generate annual revenue of about RMB 8 trillion, serving as important vehicles for driving local economic development, expanding employment channels, and carrying forward Chinese civilization.
The Ministry of Industry and Information Technology, together with the Ministry of Human Resources and Social Security, the Ministry of Agriculture and Rural Affairs, the Ministry of Commerce, the Ministry of Culture and Tourism, and the State Administration for Market Regulation, recently issued the Opinions on Promoting the High-Quality Development of Historical Classic Industries. These industries refer to traditional Chinese specialty sectors with deep cultural heritage, including silk, tea, porcelain, traditional Chinese medicine, brewing, arts and crafts, and the four treasures of the study (brush, ink, paper, and inkstone).
The Opinions set a target for 2028: cultivate 50 leading enterprises with annual revenue of RMB 10 billion each, shape 100 Chinese consumer brands, and build several industrial clusters with output of RMB 100 billion, forming a tiered and complementary industrial layout. By 2030, the plan aims to foster a number of world-class enterprises and renowned brands, pushing the industries toward the mid-to-high end of the global value chain.
The Opinions also propose accelerating the classified cultivation of enterprises. It supports established famous enterprises in becoming stronger and better, accelerates the cultivation of manufacturing champions, and promotes the building of world-class classic brands. It guides small and medium-sized enterprises to become more specialized and refined, encourages quality firms to apply for recognition as specialized and innovative "little giant" enterprises, and supports eligible enterprises to be included in provincial special funds for SME development. It also supports workshop-style and family-run enterprises in adopting modern production technologies and management methods, enhancing industrial design capabilities, and promoting the optimization and innovation of traditional crafts.