BCN-23 China to overcome hurdles in high-quality manufacturing development

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ZCZC

BCN-23

CHINA-ECONOMY-MANUFACTURING

China to overcome hurdles in high-quality manufacturing development

BEIJING, Jan. 3, 2019 (BSS/Xinhua) – While China is seeking high-quality
manufacturing growth, policymakers are fully aware of the big gap between its
manufacturing development and the international advanced level.

A prominent problem of the Chinese manufacturing industry is that it is
big but not strong, said Xin Guobin, vice minister of the Ministry of
Industry and Information Technology (MIIT).

China’s manufacturing growth level still lags substantially behind that of
the international advanced level in terms of labor productivity, efficiency
of resource use, return on investment and total factor productivity, said
Xin.

“If China doesn’t make changes passively and proactively, the development
chance brought by the new round of technological and industrial revolution
will be lost,” said Xin.

To promote high-quality manufacturing development, China will
simultaneously foster and develop emerging industries while renovating and
upgrading traditional industries, according to Xin.

“China should put innovation at the core of industrial development and
strengthen its efforts in core technology breakthroughs,” said Miao Wei, head
of the MIIT.

In 2019, the MIIT will intensify the examination and estimation of its
national manufacturing innovation centers, implement dynamic management,
continue to carry forward major national science and technology projects
while promoting intellectual property protection and standardization.

China will foster new technologies, new organizational forms, and new
industrial clusters while swiftly resolving zombie enterprises, according to
Miao.

The MIIT will further reduce tax and fee burdens on enterprises in 2019
and advance reform to delegate power, streamline administration and optimize
government services, said Miao.

At the annual Central Economic Work Conference in December, policymakers
agreed to promote the integration of advanced manufacturing and modern
service sector and build China into a quality manufacturer.

BSS/XINHUA/HR/1250