China has released national guidelines to modernize traditional industries like silk, tea, and porcelain, aiming to support 50 companies with revenues over 10 billion yuan by 2028. The initiative includes 20 measures to boost these sectors.
This initiative signals China's strategic effort to leverage its cultural heritage for economic growth, aiming to create globally competitive brands from traditional sectors and boost their revenue significantly.
China has introduced its first national guidelines aimed at modernizing traditional industries, including silk, tea, and porcelain. The initiative seeks to elevate 50 companies within these sectors to achieve annual revenues of at least 10 billion yuan ($1.5 billion) by the year 2028. These guidelines, released by six government agencies, including the Ministry of Industry and Information Technology (MIIT), detail 20 specific measures designed to support these industries. The scope of the modernization effort also extends to traditional Chinese medicine, brewing, and arts and crafts.