China’s Premier Li Keqiang has recently provided suggestion on how to further strengthen Chinese manufacturing and improve the country’s economy.
Recently, Premier Li chaired a symposium that focused on building China as a manufacturing power and the upgrading of its economic structure.
According to the Chinese government website, The symposium was attended by leaders and entrepreneurs such as the Ministry of Industry and Information Technology and the General Administration of Quality Supervision, Inspection and Quarantine; and heads of the TCL Group, Haier Group, and the Industrial and Commercial Bank of China.
Premier Li also asked the entrepreneurs in attendance about the difficulties that they encounter in their enterprises. The leaders exchanged ideas on how to improve China’s economic development.
The country has one of the world’s leading manufacturing sectors, which is why it’s surprising that Premier Li said that it is still “at the lower end of the international division of labor” and is still “large in scale but weak in competitiveness.”
“Manufacturing is fundamental for economic development. Only if China’s manufacturing industry gains strength for development, can the economy realize transformation and upgrades, and attain new-type industrialization,” he explained.
Premier Li suggested that in order to get stronger, China should have efforts to “eliminate backward production capacity and technology, and accelerate the replacement of old growth drivers with new ones.”
China is currently working on the “Made in China 2025,” an initiative launched in 2015. Focusing on the country’s manufacturing industry, it aims to make the country a world manufacturing power, improving production efficiency and quality. Some of the things that the plan zeroes in are green development, innovation, and general improvement of the manufacturing process.
Some of the other highlights of Premier Li’s suggestions is taking full advantage of Chinese talent. One of the best ways to meet the demands of the industry, he said, is to promote entrepreneurship and craftsmanship, better training (ie. improving vocational education), and to provide incentives to workers to build a high-quality workforce.
The government website also reported Premier Li as saying that intellectual property protection must be increased to shut down the production of counterfeit goods.