China is seeking to drive high-quality economic development by exploring further application scenarios for new technologies and products, with the aim of promoting their large-scale industrial application and development, and accelerating the development of emerging industries.

At a policy briefing in Beijing on Monday, Li Chunlin, deputy head of the National Development and Reform Commission, said scenarios had become key innovation resources, defining the term "scenario" as a bridge that connects technology and industry and that links research and development with the market.

The briefing was delivered by officials of multiple government departments and came after the general office of the State Council publicised a related set of guidelines last week.

The guidelines, Li said, have specified efforts to explore and develop new application scenarios on five major fronts: the digital economy and artificial intelligence; industrial transformation and upgrading in sectors such as manufacturing and transport; industries such as mining and emergency response; social governance services; and public welfare.

He said these measures would provide opportunities for private capital and private enterprises to participate in the development of scenarios and revealed that central government funding would be provided to support eligible infrastructure projects that serve major application scenarios.

Also speaking at the briefing, Ministry of Industry and Information Technology official Yao Jun said the ministry attached great importance to nurturing scenarios and would work to accelerate the exploration of application scenarios in a wide range of fields by utilizing 5G, AI, robotics, industrial internet and BeiDou navigation technologies.

China also plans to ramp up policy support to attract more private capital to the energy sector, said Xu Xin, the deputy head of the legal affairs department at the National Energy Administration, on Tuesday, the latest initiative to improve sluggish private investment.

The State Council unveiled new policy measures on Monday involving private capital investments in infrastructure projects and the low-altitude economy, referring to manned or unmanned aviation services at low elevations.

Authorities will enhance efforts to attract private investment in major projects covering nuclear power, hydropower and cross-regional power transmission channels. Xu said they will also study and assess appropriate shareholding ratios.

China has attracted high-quality private enterprises to invest in hydropower stations in Dadu River, Jinsha River and Benzilan, she added.

The cabinet said projects requiring state approval, such as railways, nuclear power, hydropower, cross-regional power transmission channels, oil and gas pipelines, LNG import storage facilities and water supplies should conduct a special assessment of the feasibility of private investment.

China will encourage private investment in these key projects, normally led by state-owned companies, with shareholding ratios set according to specifics and policy requirements. For eligible projects, private shareholdings could exceed 10 percent, the cabinet said.

Private firms have also been allowed to take stakes of up to 20 percent in some major nuclear power projects, said Guan Peng, deputy head of the fixed-asset investment department at the National Development and Reform Commission.

China will meet the reasonable credit needs of private firms and implement "green channel" policies for stock listings, as well as mergers and acquisitions of technology-based companies focused on breakthroughs in core technologies, he said.

In April, China passed a new law aimed at boosting confidence in the private sector and strengthening its role in the economy amid heightened trade tensions with the United States. (Xinhua/Reuters)