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Premier Li calls for new models to upgrade manufacturing

Updated: Feb 5,2016 10:35 AM     english.gov.cn

Favorable policies should be directed to new industries, business models and growth engines as an effort to boost the new economy, where manufacturing and services are often mixed, Premier Li Keqiang said at the State Council executive meeting on Feb 3.

The meeting decided to build bases for entrepreneurship and innovation, which Premier Li said will provide all-around, low-cost and professional services for implementation of the mass entrepreneurship and innovation strategy.

“Some countries have been launching a new round of technological revolution with subversive technology. We should catch up with the trend and transform ‘Made in China’ into an intelligent and networked industry,” said the Premier.

On Feb 2, during his inspection visit to a citizens’ hall in Ningxia Hui autonomous region, Premier Li was told by a restaurant owner that his place now enjoys a stable daily turnover, and the take-out business has been growing rapidly.

At the meeting, Premier Li described the case as an example of the new business model, saying it helps adjust industrial structure and boost employment.

Moreover, Premier Li said the makerspaces can further break professional boundaries between industries and services, which will stimulate new models in the “new economy”.

According to the meeting, a series of national innovation platforms, based at national independent innovative demonstration zones and hi-tech development zones, will be established, focusing on key areas such as electronic information, high-end equipment manufacturing and modern agriculture.

In particular, Premier Li said the development of makerspaces should promote models such as crowd-funding, as well as fault-tolerant mechanism. He also said that traditional large enterprises should speed up integration of “Made in China 2025” and Internet Plus.

Small and medium-sized enterprises should promote new industrialization, as well as improve their income distribution system, to help upgrade China’s manufacturing.

The meeting also decided to support scientific and technical personnel to start their own businesses in makers spaces and provide favorable policies on issues such as intellectual property rights protection.

“It makes no sense if our financial investment cannot turn into products that are industrialized and recognized by the market,” said Premier Li.

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