PRESS RELEASE
China Unveils Plans To Become a Manufacturing Superpower
May 20, 2015 (EIRNS)—China’s State Council has unveiled a national plan, "Made in China 2025," focusing on making China a manufacturing superpower. Xinhua reports that the plan has been authorized by Premier Li Keqiang. The report also says this plan will be followed by another two plans to transform China into the world’s leading manufacturing power by 2049, which will be the 100th anniversary of the founding of the republic.
The action plan calls for "restructuring of the manufacturing sector" and likely removal of overcapacity that exists in key industries like steel, The Diplomat reported today. In order to achieve the objective, the report identified nine tasks as priorities: improving manufacturing innovation, integrating information technology and industry, strengthening the industrial base, fostering Chinese brands, enforcing green manufacturing, promoting breakthroughs in 10 key sectors, advancing restructuring of the manufacturing sector, promoting service-oriented manufacturing and manufacturing-related service industries, and internationalizing manufacturing.
The ten key sectors in which China seeks breakthroughs are: new information technology, numerical control tools and robotics, aerospace equipment, ocean engineering equipment and high-tech ships, railway equipment, energy-saving and new-energy vehicles, power equipment, new materials, biological medicine and medical devices, and agricultural machinery.
To fulfill these tasks, Xinhua reported, "Made in China 2025" will focus on five major projects, including establishing a manufacturing innovation center and introducing a series of policies to deepen institutional reforms strengthening financial support.
In Premier Li’s words, The Diplomat said, Beijing wants to go from "Made in China" to "Created in China."
