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Category: CHINA

Published: Sunday, 29 March 2015 13:49

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China targets ‘big 10’ fields for economic development at Boao Forum

Economic issues are always a focal point at the annual Boao Forum for Asia. At this year’s forum, which opened on March 26, former Japanese Prime Minister Yasuo Fukuda and former Chinese vice premier Zeng Peiyan, as well as CEOs from Fortune Global 500 companies, will share ideas on the development of China’s manufacturing industry, the “new normal” of the Chinese economy and the global economy in 2015.

One of the most anticipated talks scheduled on March 28, titled “Where to Export?” probes possible changes in suppliers and markets.

With changes in the international division of labor, manufacturing has once again become a key factor in the competitive global economy. The forum will examine the challenges facing China’s manufacturing sector to innovate, transform and upgrade to maintain its presence in the export market.

An executive meeting of the State Council, chaired by Premier Li Keqiang on March 25, called to push the "Made in China 2025" strategy and further develop manufacturing. China seeks to maintain medium- to high-speed economic growth by focusing on the manufacturing of mid- and high-quality goods and brands.

As part of the “Internet Plus” action plan, the meeting stressed prioritizing the development of ten fields, including information technology, high-end machine tools,  and robotics, aerospace equipment, marine engineering equipment and high-tech ships, advanced railway transportation equipment, energy saving and new energy vehicles, electronics, material sciences, biomedicine and high-end medical equipment, and agricultural equipment.

The meeting also stressed the importance of industrial capacity, improving manufacturing technology and product quality, as well as promoting intelligent manufacturing and green manufacturing. (People’s Daily)