Central China’s Hubei province is planning five strategic projects to speed up the development of the seven emerging industries of electronic information, new material, biomedical, energy conservation and environmental protection, alternative energy automobiles, biobreeding and alternative energy, the Hubei Development and Reform Commission said.

The five major projects consist of a technology research application project, an industrialization project, a parks agglomeration project, a technology application project and a venture capital project.

Among the five, the technology research application project is the most important. It focuses on figuring out the future path for these key industries and how to encourage national or provincial scientific research results to be applied in Hubei.

The goal of Hubei province in developing new industries is to reach an output value of 1 trillion yuan, and to have 40 enterprises with an annual revenue of five billion yuan and 100 enterprises with an annual revenue of one billion by 2015.