Made in China 2025: 4 questions on the country’s manufacturing upgrade 10 years on
China's "Made in China 2025" plan, initiated a decade ago, has spurred significant advancements across various industries, despite ongoing international controversy, particularly amid trade tensions with the US. The initiative, launched in 2015, aimed to transform China from a producer of cheap goods to a global manufacturing powerhouse, focusing on key sectors through state-led support.
While the Chinese government has publicly downplayed the program in recent years due to global resistance, it has undeniably reshaped the domestic economy. Chinese brands now dominate the electric vehicle market, and the domestically produced C919 passenger plane is operational. Although challenges remain in high-end sectors like semiconductors and aerospace, assessments indicate that China has achieved a substantial portion (around 86%) of its "Made in China 2025" objectives through a combination of policy support, tax incentives, resource allocation, and talent development.
via SCMP Full Text Feed
China's "Made in China 2025" plan, initiated a decade ago, has spurred significant advancements across various industries, despite ongoing international controversy, particularly amid trade tensions with the US. The initiative, launched in 2015, aimed to transform China from a producer of cheap goods to a global manufacturing powerhouse, focusing on key sectors through state-led support.
While the Chinese government has publicly downplayed the program in recent years due to global resistance, it has undeniably reshaped the domestic economy. Chinese brands now dominate the electric vehicle market, and the domestically produced C919 passenger plane is operational. Although challenges remain in high-end sectors like semiconductors and aerospace, assessments indicate that China has achieved a substantial portion (around 86%) of its "Made in China 2025" objectives through a combination of policy support, tax incentives, resource allocation, and talent development.
via SCMP Full Text Feed
