China will lead the world in smart manufacturing by 2030, report says
The ‘Made in China 2025’ project has put China on course to overtake the West in hi-tech manufacturing, according to the report
China’s ambitious “Made in China 2025” industrial strategy has put the country on track to become a global leader in smart manufacturing within the next few years, though breakthroughs are still needed in several bottleneck technologies, according to a new report by Beijing’s Renmin University of China.
The Made in China 2025 project, launched a decade ago, aimed to propel China to the forefront of a slew of hi-tech industries, including aerospace, electric cars, robotics and telecommunications.
Though Beijing has become reluctant to publicly name-check the policy in recent years amid global pushback – especially from the United States – the strategy nevertheless helped China achieve remarkable progress in several key areas, said Wang Wen, dean of Renmin University’s Chongyang Institute for Financial Studies.