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Momentous changes in China’s manufacturing expected

Updated: Mar 28,2018 3:34 PM Economic Daily

The China Development Forum 2018, hosted by the Development Research Center of the State Council, was held on March 26 in Beijing, where experts presented their suggestions on upgrading the country’s manufacturing industry, the Economic Daily reported.

The high-quality development of China’s economy is ushering in imminent changes in manufacturing, including improvements in the supply system and industrial structures, advancements in efficiency, and incentives for innovation and entrepreneurship, said Miao Wei, head of the Ministry of Industry and Information Technology.

The development of manufacturing, Miao added, should focus on stepping up the supply-side structural reform and fully implementing the “Made in China 2025” plan. That entails enhancements in advanced manufacturing industries, such as bio-medicine and coordinated cross-region development.

Digitization and the application of related technologies will bring massive convenience to China’s manufacturing, which will help address social problems, such as the aging population and climate changes, said Hiroaki Nakanishi, president of Hitachi.

Echoing Nakanishi, Joe Kaeser, president and CEO of Siemens, said that automation and smart technologies are highly conducive to the productivity of enterprises, and will provide more job opportunities for workers with a good command of related skills.