(Yicai) March 8 — China plans to lift all restrictions on foreign investment in manufacturing this year, as part of which it will test opening up value-added communications services such as internet data hubs to foreign investment. Preparations are also underway to start the project. The Minister of Industry and Information Technology today said the following about the country’s new style of industrialization.
Jin Zhuanglong said that the new style of industrialization requires further deepening of reform and opening up, and its characteristic is thorough integration of informationization and industrialization.
He said China should focus on strengthening and improving its competitive advantage and leading position in the information and communications field, and build facilities for fifth-generation mobile networks and computing capacity in a timely manner.
Jin said the government should continue to promote the large-scale application of industrial Internet and the evolution of existing 5G mobile technology. Investment in research and development of 6G technology should also be increased.
The digitalization, “internetization” and intelligentization of the manufacturing sector should also be promoted. Digital transformation in the manufacturing industry needs to be implemented by category. He added that an “artificial intelligence plus” action plan should also be implemented so that AI can drive a new style of industrialization.
China has cultivated 124,000 small and medium-sized enterprises that use sophisticated technology to produce novel and unique products, playing an important role in the local industrial chain.
Second, MIIT must digitally empower these SMEs and accelerate their digital transformation. Jin said the country will support the digital transformation of more than 40,000 small and medium-sized enterprises over the next three years.
Second, the state should fully implement laws promoting small and medium-sized enterprises and provide guarantees for payments, energy, human resources and land for small and medium-sized enterprises.
Third, China will continue to perfect the service system for small and medium-sized enterprises and make full use of development funds for small and medium-sized enterprises to support innovation, creation and entrepreneurship, Jin said.
Finally, China will involve many small and medium-sized enterprises in the growth of major industrial chains. Jin said the government will establish a platform for the integrated development of small and medium-sized enterprises and large enterprises. Earlier this year, Kim said China would build 100 more small and medium-sized enterprise industrial clusters, in addition to the 200 such hubs that already exist.
Editor: Kim Taylor
