Hangzhou has a new standard on promoting the high-quality development of its new manufacturing industries. It was issued on Sept 20. [Photo/zjol.com.cn]

Hangzhou, capital of East China's Zhejiang province, issued an important guideline on promoting the high-quality development of its new manufacturing industries on Sept 20.

The guideline targets taking the city's total industrial output value to 2.5 trillion yuan ($351.25 billion) and the added value of industries above a designated scale to 680 billion yuan by 2025, with an annual growth rate at 10 percent.

According to the initiative, Hangzhou will accelerate the cultivation and introduction of emerging industries. It will also transform and upgrade traditional industries and eliminate outdated production capacity, so as to form a development mode driven by the digital economy and manufacturing industries.

Officials said biomedicines, integrated circuits, new energy and new materials and high-end equipment will play a leading role in emerging industries.

Its manufacturing industry is the foundation of the city's economy and ensures Hangzhou stays in the forefront of the country, said Zhou Jiangyong, Party secretary of Hangzhou.

It is estimated that Hangzhou will have 8,000 industrial enterprises above a designated size – companies with annual revenues 20 million yuan or more – and 2,000 national high-tech enterprises of the same scale in manufacturing by 2025.