Abstract: As the new round of technological revolution and industrial transformation accelerates, fostering and expanding emerging and future industries is a key measure for promoting high-quality economic development in China, building a modern industrial system, and securing a leading position in global competition. With the strategic goal of building emerging pillar industries, this study systematically analyzes the intrinsic connections among emerging industries, future industries, and emerging pillar industries, and clarifies the core characteristics of emerging pillar industries, which include high growth potential, high technological content, and broad application across various sectors. The study finds that emerging industries must achieve a leap in capability through clustering and scaling. Since cluster-based development primarily relies on the theory of agglomeration externalities, and scaled development involves three-dimensional synergy across technology, production, and markets—exhibiting new characteristics such as digitalization, intelligence, convergence, and environmental sustainability—policy approaches must balance virtual agglomeration, demand-side factors, and supply-chain synergy. Future industries should center on cutting-edge technologies to cultivate new growth drivers for the economy. While China has already established a global competitive advantage in certain sectors, it still faces multiple challenges in areas such as technology, financing, and ecosystem development. Given the strong externalities, long development cycles, and high uncertainty inherent in future industries, this study proposes establishing a full-cycle, diversified investment growth mechanism and a multi-tiered, full-chain risk-sharing mechanism. It also advocates for improving institutional safeguards—such as government-guided funds, technology-focused finance, and regulatory sandboxes—to provide theoretical support and policy guidance for the high-quality development of China's emerging and future industries during the 15th Five-Year Plan period.
