The Ministry of Industry and Information Technology ("MIIT") has recently issued the 2020 Work Plan of the Special Working Group on Industrial Internet (the "Plan").
The Plan stipulates ten types of tasks including building an industrial Internet platform and cultivating new models and new formats, and covers 54 specific measures, such as supporting domestic and overseas listing and financing of industrial Internet companies. In respect of promoting the implementation of policies, the Plan proposes to use the special funds for high-quality development of the manufacturing industry to support industrial Internet development; to continue to implement the relevant preferential tax policies; to enhance the investment of government-sponsored industry investment funds and venture capital enterprises and support bond financing; to strengthen the credit support for the industrial Internet sector; and to expand the coverage of intellectual property pledge financing. The Plan also aims to build ten benchmark networks within this year, and promote 100 leading enterprises in key industries and 1,000 local backbone enterprises to carry out the transformation and upgrade of industrial Internet intranet; and promote 400,000 enterprises to become cloud-based and apply the industrial Internet platform in research and development, design, manufacturing, operation and management services.