China to Phase in 7 New Industries, Phase Out 19

China has named seven new industrial sectors to be cultivated as part of the 12th five-year plan while adding six sectors to the list of 13 it had already planned to phase out, according to Xinhua.

The seven new sectors are copper smelting, lead smelting, leather processing, zinc smelting, printing and dyeing, chemical fibers and lead-acid batteries. They will be phased in gradually during the 12th five-year plane from 2011 through 2015.

The six industries added to the list of industrial sectors to be phased out include cement and paper-making. The 19 outdated sectors slated to be eliminated will be rooted out entirely and won’t be allowed to be moved to less-developed regions in western China, according to the order handed down to regional authorities by the Ministry of Industry and Information Technology.

Having attracted foreign investment capitals of over $110 billion in 2010, China must improve the climate for inbound investments, said the Ministry of Commerce. It plans to do that by introducing international brands, techniques, talents and management skills to create a more attractive environment for foreign firms, according to the Ministry’s director of Foreign Investment Administration.