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Premier Li stresses development of China’s manufacturing capabilities

Updated: Dec 23,2016 10:15 PM

Efforts should be made to improve China’s manufacturing capabilities, Premier Li Keqiang said in his instruction to a meeting on the initiative of “Made in China 2025”, which is aiming to promote the manufacturing industries of the world’s second-largest economy.

The meeting was held in Changsha, Hunan province, on Dec 23.

With joint efforts from all parties, the implementation of “Made in China 2025” has witnessed promising achievements that promoted industrial structure optimization and innovation, according to Premier Li.

He said that efforts should be made to analyze the potential and challenges of China’s manufacturing industries and promote supply-side structural reform by learning from international experiences and strengthening reforms in sectors of administrative services, taxation and finance.

Market access for high-end manufacturing industries should be advanced further, creating a favorable environment for resource allocation and manufacturers’ cost reduction, he added.

The Premier noted that efforts should also be taken to coordinate initiatives of “Made in China 2025”, “Internet Plus” and mass entrepreneurship and innovation to foster new economic drivers and promote the transformation of traditional driving forces.

Entrepreneurship and craftsmanship are also major issues as the Premier stressed the importance of manufacturing capabilities featuring smart and green technologies, which will back up a medium-to-high level of economic development.

Vice-Premier Ma Kai delivered a speech at the meeting, saying that efforts should be made to implement the initiative of “Made in China 2025” based on the supply-side structural reform, promoting the nation’s manufacturing capabilities and economic development.

Ma said since the implementation of “Made in China 2025” strategy, the innovative system has improved, industrial foundation is reinforced, together with the development of intelligent manufacturing and high-end equipment.

China is striding toward becoming a manufacturing power, which effectively promotes sustainable growth, transformation and upgrades, as well as rebounding revenue of the manufacturing industry, he said.

The vice-premier stressed that the manufacturing industry is central to the real economy, the main drivers for technology innovation, and the major sectors for the supply-side reform. “We should adhere to a market-oriented, enterprise-centered development, making greater efforts in promoting the “Made in China 2025” strategy”, he added.

To achieve this, coordination should be strengthened, including the coordination of planning, capital, central and local, to form a joint force for development, said Ma.

He then stressed the importance of strengthening innovation, calling for the establishment of an innovation center for national manufacturing, focusing on the supply of key technology, improving the weak link of a batch of high-end equipment, continuing to promote the transformation and upgrade of technology, and greatly strengthening brand construction.

Ma also called for improving the manufacturing industry by developing new material, basic industrial components and new craft, promoting the integration between internet and manufacturing industries by developing smart manufacturing projects and customized products, and maintaining market order and cutting the burden of enterprises through cutting administrative approvals and ease market access.

The government will encourage enterprises to improve their administration, especially the incentive and punishment incentive, so as to dig their full potential, Ma Kai said.