Beijing set to unveil ‘Made in China 2025’ 10-year plan

Beijing will soon unveil details of its “Made in China 2025” initiative, the first of three 10-year plans aimed at turning the nation into an advanced manufacturing powerhouse, the Beijing-based Economic Observer reports.

The State Council approved the “Made in China 2025” plan on March 25 and an expert close to the Ministry of Industry and Information Technology said the aim is to address the country’s lack of high-end technology in the manufacturing sector. According to the expert, the plan will be implemented through a series of projects and the establishment of innovation centers backed by universities and businesses.

The plan will focus on areas such as smart manufacturing, infrastructure, green manufacturing and advanced equipment, the expert added.

The plan was first proposed by the Chinese Academy of Engineering (CAE) and drafting of the plan began in 2013. The country hopes to become a leading manufacturer that can rival the United States, Germany and Japan in 2045 following the three 10-year plans, the expert said.

The government is expected to introduce several policy incentives and reduce regulatory hurdles in order to encourage the private sector to invest in the manufacturing industry, the expert added.

Full article: Beijing set to unveil ‘Made in China 2025’ 10-year plan (Want China Times)

Comments are closed.