This month, China’s State Council revealed “Made in China 2025,” a plan to elevate China’s global position in manufacturing. The plan is the first in a series of three, which by 2049 are meant to establish the country as “a leading manufacturing power.” China’s premier, Li Keqiang, said at the annual session of the National People’s Congress that the country would work to augment its manufacturing position, striving for manufacturing quality rather than quantity. Among the main goals of the plan are increasing innovation in manufacturing and fostering advancement in 10 priority sectors. These sectors include biological medicine, medical devices and new materials. Made in China 2025 is to be market driven with guidance from the government. As part of the plan, China will create a center for manufacturing innovation. It will also develop policy for institutional reform and financial support. According to government officials, ideas from Germany, Japan, the UK and the US will be applied to China’s entire manufacturing industry.

Source: China Daily