China is studying the possibility of accelerating the advance of new industrialization, according to an executive meeting of the State Council chaired by Premier Li Qiang on Wednesday.
The meeting heard reports on inspections and investigations to promote sustained economic recovery. Efforts to promote the quality of industrial development, efficiency and international competitiveness were highlighted.
Emphasis was also placed on the need to promote the transformation and upgrading of traditional industries while cultivating strategic emerging industries, accelerating the development of advanced manufacturing industries, and promoting the development of digital industrialization and industrial digitalization of coordinated way. Efforts must be made to mobilize all types of business entities and use national and international markets and resources to inject vitality into the new industrialization.
Qin Hailin, chief engineer of the China Electronic and Information Industry Development Research Institute, said that although much focus needs to be placed on the country’s current phase of economic recovery, improving manufacturing competitiveness and developing of high quality, it is also important to accelerate the development of new industrialization.
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In the first eight months of 2023, the added value of industrial enterprises above the designated size increased by 3.9% year on year, the high-end manufacturing industry made solid progress, and the green transformation strengthened the momentum of industrial production.
The meeting heard reports on inspections and investigations to promote sustained economic recovery
However, traditional industries also face the pressure of transformation and modernization, and new industries require greater stimulus.
In the next step, China will insist on strengthening core industrial capabilities and the overall strength of industrial chains, and take intelligent manufacturing as the main direction to accelerate the development of a modern industrial system, said an official with the Ministry of Industry and Technology. of China Information.
Article republished from the Chinese state media CGTN within the framework of an agreement between both parties to share content. Link to the original article: https://news.cgtn.com/news/2023-09-22/China-intends-to-speed-up-new-industrialization-1nj1r4Lupsk/index.html
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