China Doubles Down on Manufacturing Dominance

China Doubles Down on Manufacturing Dominance

The focus is squarely on a production-led development model, with a “modernized industrial system” the priority.

China focuses on a modern industrial system and domestic market

Zheng Shajie, director of China’s National Development and Reform Commission, emphasized that the proposal places the construction of a modern industrial system as a strategic priority, with an emphasis on consolidating traditional industries that account for nearly 80 percent of the country’s manufacturing value added. Upgrading sectors such as chemicals, machinery, and shipbuilding could generate an additional market space of approximately 10 …