CHINA is making new strides in economic and industrial sectors thanks to the Leadership Vision 2025 that is turning the country into a giant manufacturing hub. The ‘Made in China 2025’ strategy, a roadmap released by the State Council in 2015 to guide the country’s advanced industrial manufacturing, has seen steady progress in industrial capability, smart manufacturing, innovation as well as product quality and branding.
The implementation pace of the vision shows China is poised to realise targets set in the ambitious plan that seeks to increase the domestic content of core material to 40% by 2020 and 70% by 2025, which would significantly reduce dependence on foreign production. China is focused on creating innovation centres, which will build a foundation for industrial development and generate a greater variety of high-end equipment. Chinese products are already found in various markets of the world but quality and high-end manufacturing underway would effectively undo the false notion that it can only undertake cheap, low-value manufacturing. This is what visitors to China observe in glittering manufacturing hubs like Shenzhen where one can see industrial giants busy in production – from BYD, the Chinese maker of electric vehicles to Huawei Technologies, the telecom giant, genomics research from BGI and drone maker DJI besides an array of innovative companies. It is also set to promote breakthroughs in 10 key industries where China wants to be a leader in the future, including information technology, robotics, aerospace, railways and electric vehicles. Based on what one witnesses in China today, it would be no wonder that the country is set to emerge as industrial super-power in not too distant a future. The rigorous progress the plan is achieving would surely result in healthy competition among the globe’s industrial leaders and as a consequence the consumers would benefit from innovation and competition.
Source: https://pakobserver.net/china-vision-2025/
