China's 'Future Industries' Push Risks Duplicated Spending, State Media Warns

China's 15th Five-Year Plan (2026-2030) has designated six "future industries" as key development areas, prompting a surge of investment and strategic positioning across the country. These prioritized sectors include quantum technology, bio-manufacturing, hydrogen and fusion energy, brain-computer interfaces (BCI), embodied AI, and sixth-generation mobile communications (6G).

However, state media outlet Economic Daily has issued a warning against a potential "rush to action" that could lead to duplicated construction and wasteful spending. The report highlights that nearly all of China's 31 provinces have mentioned hydrogen energy development in their 15th Five-Year Plans, with 29 provinces referencing bio-manufacturing and over 20 mentioning embodied AI. Quantum technology, BCI, and 6G are also featured in about half or more of the provincial plans.

Significant capital is flowing into these emerging fields. In the first three months of this year, funding for Chinese BCI companies surpassed the total for the entire previous year. Over the past six months, more than 90 billion yuan (approximately $12.4 billion USD) has been invested in the embodied AI industry. Furthermore, cities like Shanghai, Beijing, and Zhejiang have established future industry funds, some reaching scales of tens of billions of yuan.

The Economic Daily report also points out that some regions are pursuing these industries despite lacking the necessary conditions. Experts have noted instances where cities, without adequate resources or application scenarios, are heavily investing in facilities like hydrogen refueling stations. These stations often suffer from severely insufficient daily usage, relying on government subsidies to remain operational. Statistics from June last year revealed that China's 560 operational hydrogen refueling stations served an average of only 43 vehicles daily, with many stations and operators incurring losses, potentially increasing local government financial burdens.