20:43, 26-Mar-2018
'Made in China 2025' Strategy: Blueprint designed to boost manufacturing
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Three years before Beijing unveiled the "Made in China 2025", Germany launched "Industry 4.0" in 2012 - a concept also aimed at boosting manufacturing. Its idea is to create intelligent manufacturing.
"Made in China 2025" is designed to make companies more competitive and to stimulate innovation rather than supporting a single industry. It is the country's first ten-year plan designed to transform China from a manufacturing giant that relies on low-cost labor into a world power in manufacturing.
The blueprint outlines three steps to improving the industry.
First, to become a manufacturing power by 2025.
Second, to become a medium-level manufacturer among the world's top producers by 2035.
Third, to rank in the top league by 2049.
Ten key sectors will be promoted, such as information technology, aerospace equipment, energy-saving and alternative energy vehicles and agricultural machinery.
Meanwhile, China has been making progress in pursuing high-quality economy growth. Officials say innovation has been a key factor leading development.
China's investments in research and development have expanded 11-percent a year over the past five years, the second highest in the world. During the same period, science and technology's contribution to China's economy rose to 57.5-percent.