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Unlocking the growth potential of China's future industries for a better future

Moulik Jahan

People visit the 24th China Hi-Tech Fair in Shenzhen, south China's Guangdong Province, November 15, 2022. /Xinhua
People visit the 24th China Hi-Tech Fair in Shenzhen, south China's Guangdong Province, November 15, 2022. /Xinhua

People visit the 24th China Hi-Tech Fair in Shenzhen, south China's Guangdong Province, November 15, 2022. /Xinhua

Editor's note: Moulik Jahan, a special commentator on current affairs for CGTN, is a strategic and security affairs analyst. The article reflects the author's opinions and not necessarily the views of CGTN.

In a significant move to promote technological advancements and techno-industrialization, a new guideline was released by the Ministry of Industry and Information Technology and six other ministries and agencies on January 29. China plans to support technological innovation, industrial cultivation, and safety governance in future industries through a government guideline, aiming to build incubators and pilot zones by 2025 and achieve breakthroughs in about 100 core technologies.

The Chinese government aims to position the nation as a leader in emerging sectors by incorporating cutting-edge technology through the 4th Industrial Revolution (4IR) such as quantum information, brain-computer interfaces, humanoid robots, and metaverse. The strategy calls for organizing local and national resources, assisting new businesses, and promoting global collaboration on research and development.

The six primary domains of manufacturing, information, materials, energy, space and health are the emphasis of the guideline. Additionally, a catalog for showcasing cutting-edge technology is suggested.

The guideline represents a major turning point in technological collaboration, openness, integration, network building, information sharing, partnership development and diversification strategy. China's future industry is expected to expand significantly because of many variables that will make the nation a major participant in the global market.

China has the potential to develop into a center for technological innovation, serving both local and foreign markets, as the world struggles to look for innovative solutions. Establishing a safe and dependable supply chain for tech products, creating a globally competitive techno-industrial environment, quickening large-scale development, and integrating related goods into the real economy are the goals of the guideline. There will always be some security challenges, but China is confident in overcoming them.

The guidelines demonstrate China's investigation into the growth of these future industries. It offers direction and assistance, using important national resources and expanding research fields and projects across a broader range of sectors.

Enhancing policy advice and allocating resources in advancing these critical technologies, and increasing productivity will ensure the target goals of the policy guideline. By 2027, China's humanoid robot—which combines artificial intelligence, luxury manufacturing, and novel cutting-edge technology-based materials—will be a new growth engine thanks to its extensive application possibilities and development potential.

A China-developed humanoid robot. /CMG
A China-developed humanoid robot. /CMG

A China-developed humanoid robot. /CMG

China's technological advancements have already started to receive support and appreciation on a global scale. China will continue to attract talent, investments and collaborations, establishing itself as a major force in the technological arena.

The 4IR-based future industries will be crucial to China's economic growth, generating large amounts of employment, GDP, and exports of technological goods. The items will see a spike in demand due to shifting consumer tastes and growing urbanization, which will provide new business opportunities.

Chinese companies need to be directly involved in 4IR technologies. It is necessary to modify policy and regulatory matters for the private sector to adopt 4IR technologies. Companies and business chambers need to use science, technology and innovation in their particular fields and educate their members about the changes that will follow.

A true and ongoing innovation in business and industry focuses on adapting to new knowledge technologies like the Internet of Things and AI via tools and apps. These technologies may assist companies with inventory management, supplier connections, and consumer behavior analysis. Chambers and organizations may assist companies in engaging with policy-regulatory environments and comprehending how automation, artificial intelligence, and blockchain affect export-import procedures. As supply, production and consumption become traceable, companies need to embrace and abide by global standards.

In emerging markets, standardization may foster integration, encourage technical innovation and enhance product quality. Since the 13th Five-Year Plan era, China has established over 1,000 national and industrial standards, demonstrating substantial development in standardization.

China is also promoting green financing in its technological advancements to accelerate its green transition towards sustainable development. Climate-resilient technologies are being used in infrastructure development, and green growth is driving global economic and social change. China's example may help other countries adopt green finance and green hi-tech products to achieve sustainable development.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)

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