China’s Ministry of Industry and Information Technology says the country will pay greater attention to new industrialization to bolster its real economy. Zheng Yibing has more.
The overall scale of China’s industrial sector has expanded with its industrial added value in 2022 exceeding 40 trillion yuan, or one-third of the country’s GDP. China had the biggest manufacturing industry sector in the world for the 13th consecutive year.
Now, the country says that it will continue to upgrade industry, focusing on a new development pattern to further bolster the real economy.
JIN ZHUANGLONG Minister of Industry & Information Technology “Boosting new industrialization is the inevitable need of realizing Chinese modernization, the fundamental support to fully establish a modern socialist country. It is the urgent need to build the competitiveness and the choice for high-quality economic development.”
Last year, China proposed to basically achieve new industrialization by 2035 and emphasized continuous efforts on the real economy.
Now, the focus is the modern industry system. The country is vowing to upgrade its traditional industries, and build world-class manufacturing clusters in competitive industries like high-speed trains, ships, vehicles, telecommunications, and energy.
It has also set its eyes on emerging industries, like 5G, AI, industrial Internet and green and low-carbon industries. The ministry says it will quicken the pace of distribution of robot, Metaverse and quantum technology, and 6G research and development.
JIN ZHUANGLONG Minister of Industry & Information Technology “Building a modern industrial system needs domestic and international cycles. We will strengthen international cooperation, deepen the reform and opening-up, create a favorable development environment and serve enterprises of China and other countries to jointly develop advanced manufacturing industry.”
The ministry says small and medium-sized enterprises, which contribute more than 60 percent of the nation’s GDP, will be assisted in the process of building the new modern industry system.
ZHENG YIBING Beijing “The ministry of Industry and Information Technology said that they will create a new pattern of development, pursue high-quality development, and make solid strides in new industrialization of the country. Zheng Yibing, CGTN, Beijing.”