On 19 May, the State Council released China's new manufacturing strategy "Made in China 2015" calculated to grow China into becoming the world's leading manufacturing giant by 2049, the centenary of the founding of the People's Republic of China. Report in the China Daily
The strategy leverages China''s four advantages - Market, Enterprises, Strategy and Talent. It will focus on 10 key sectors: New Information Technology; Numerically-controlled Equipment; Aerospace systems; High-tech vessels; High-Speed Rail; Energy Conservation; New Materials; Medical Devices; Agricultural Machinery; Power Generation.
The strategy characterized by marrying manufacturing and information technology, will be guided by Five Principles - innovation, quality, green development, optimizing structure, and talent. It is mandated to achieve significant milestones by 2025 and 2035.
It will start with five big projects including national manufacturing innovation centers, intelligent manufacturing including innovative high-end equipment, core electronic devices, high-end universal chips, numerical control machines and large airplanes.
A pictorial diagram highlighting China's new manufacturing strategy follows -
The transition path to high-technology manufacturing is unlikely to be smooth. A great deal of reliance on China's current manufacturing powerhouse will remain if sufficient jobs are to turn the teeming millions of factory workers into consuming middle-class. Moreover, the global supply and production chain has become highly diffused. Neighboring developing countries like Vietnam, Indonesia and Cambodia are part and parcel of a "Factory Asia" phenomenon. See an explanatory note "Made in China - Global Manufacturing" in The Economist (14 March, 2015)