China’s top economic planner has created a department to support the development of the booming low-lying economy, as the country strives to foster new growth engines.
The new department, which reports to the National Development and Reform Commission (NDRC), is responsible for formulating and organizing the implementation of strategic development plans as well as medium and long-term development plans, formulate policy recommendations and coordinate issues of major importance related to the low-lying economy, according to the CNDR.
The department recently held symposia on the progress of construction of low-altitude infrastructure and low-altitude smart grid systems, according to the latest updates posted on the NDRC website.
The move comes amid intensifying government efforts to exploit the low-altitude economy, which refers to economic activities and industries centered on manned or unmanned aerial vehicles operating in airspace generally at less than 1,000 m above the ground.
This industry is growing rapidly in China, with more than 50,000 companies engaged in relevant activities as of September, according to data from CCID Consulting. The scale of the country’s low-lying economy is estimated at more than 670 billion yuan (about 93 billion U.S. dollars) this year, with forecasts of more than 1 trillion yuan by 2026.
This year, the term “low-lying economy” was included, for the first time, in the Chinese Government Work Report. China will develop general aviation and the low-altitude economy, according to a key resolution adopted in July at the reform-focused third plenum of the 20th Central Committee of the Communist Party of China.
Beijing, Shanghai, Shenzhen, Suzhou and dozens of other cities have announced supporting policies to develop the low-lying economy.
The industry’s infrastructure and flight services systems will gradually improve over the coming years, driven by advances in smart grid technologies and strengthened management practices, according to CCID Consulting.
