East China's Fujian province has promised to fully encourage innovation and entrepreneurship and promote the development of the electronic information, machinery manufacturing, and petrochemical industries in an effort to transform them into trillion-yuan ($143 billion) industries, according to the province's 2020 government work report announced on Jan 11.

The report also says that Fujian will improve its overall industrial capacity and industrial chain, support key enterprises, and enhance coordination and technological collaboration between upstream and downstream industries.

It will work to foster new leading industries such as the digital industry, advanced manufacturing, new energy and materials, modern agriculture with local characteristics, fashion, culture, tourism, and sports.

It also strives to strengthen its intelligent and service-oriented manufacturing industries, and plans to further integrate the advanced manufacturing and modern service industries.

In addition, 500 class-A logistics enterprises will be established to refine the endpoints of the logistics network.

Also, 500 key technical renovation projects at the provincial level will be implemented with an expanded investment fund of 20 billion yuan. Total investment in the projects is expected to reach 500 billion yuan.

Furthermore, the province plans to accelerate the development of emerging industries such as the new generation of information technology, new energy vehicles, and biomedicine with the goal of increasing their added value to 600 billion yuan.

It will also build a national pilot zone for the innovative development of the digital economy, carry out programs related to blockchain technology and industry, and push ahead with the commercial use of 5G. It hopes to develop a digital economy valued at 2 trillion yuan.

Lastly, it will strengthen the marine industry and develop a green construction industry, aiming for an output of 1.3 trillion yuan for each.