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China to boost “Made in China 2025” strategy

China to boost Made in China 2025 strategy.jpg 

China's State Council pledged Wednesday to boost the implementation of the "Made in China 2025" strategy, which will upgrade the manufacturing sector.

Accelerated industrialization is supported by the manufacturing sector, according to a statement released after an executive meeting of the State Council, presided over by PremierLi Keqiang.

The "Made in China 2025" strategy proposed in this year's government work report can empower the manufacturing sector, while boosting "innovated in China," it said, adding that this will help the country achieve a medium-high-level economic growth.

On March 5, Premier Li said China will implement the "Made in China 2025" strategy alongside an "Internet Plus" plan, based on innovation, smart technology, the mobile Internet, cloud computing, big data and the Internet of Things.

Following this, informatization and industrialization will be unified and priority will be given to the development of ten particular fields, including information technology, new materials and agricultural machinery, the statement said.

More efforts will be made to boost the integrated growth of productive services and the manufacturing sector, and improve the levels and core competition of the manufacturing sector, the statement said.

Favorable policies will be mapped to help forge an upgraded version of the manufacturing sector, it said.
Miao Wei, minister of industry and information technology, said intelligent manufacturing would shift China from a big manufacturing country to a strong one.

Su Bo, vice minister of industry and information technology, said industrial restructuring faced the problem that companies do not own core technologies to innovate, thus, to achieve "Made in China 2025" more innovation was needed.

Meanwhile, industrial companies must improve its competition with the help of Internet technology, Miao said.
Small companies and start-ups drove innovation and they needed more favorable policies, Miao said.

The meeting also discussed the merging processes of the two high speed rail manufacturers — China North Railway and China South Railway.

The merger should follow market rules and the enterprises' will to ensure stable company operation and improve performances, the statement said.

The meeting also vowed to boost state-owned enterprise reform and tackle problems like repetitive construction and over competition.

2016-06-24

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