China is hoping to revamp and upgrade its economy over the next decade, and they've just unveiled the plan to get them there: "Made in China 2025."
READ: DIY Nation: China's New Wave of Young Innovators
Before that date, the country hopes to create "globally competitive" multinational companies that are resource-efficient as well as environmentally friendly.
According to the State Council plan released on Tuesday, there are ten main areas where China can build a high-end manufacturing sector: information technology, numerical control tools and robotics, aerospace equipment, ocean-engineering equipment and hi-tech ships, railway equipment, energy-saving and new-energy vehicles, power equipment, new materials, biological medicine and medical devices; and agricultural machinery.
As economic growth slows and labor costs continue to rise, it is hoped that the transition to value-added, higher-end manufacturing will make China a global manufacturing power by 2049.
15 "national manufacturing innovation centers" will be established by 2020, and 40 by 2025, aiming to make key advances in key technologies, such as improving upgrading computer chips' adaptability, improving mobile communications technology, and producing multipurpose robotics.
In 2014, China spent more than RMB1.3 trillion importing chips - more than the total amount the country spent on crude oil.
RELATED: Tianjin University professors charged with stealing US technology to establish Chinese firm
[Image via Secret China]
0 User Comments