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Belt and Road Weekly

China strengthens policy support for shaping innovation powerhouses of manufacturing

September 25, 2019


Abstract : China's manufacturing industry is witnessing evidently enhanced innovation capacity, as evidenced by sharply increasing number of applied and authorized patents, as it is learnt at the World Manufacturing Convention (WMC) 2019 recently held in Hefei, capital of east China's Anhui Province.

BEIJING -- China's manufacturing industry is witnessing evidently enhanced innovation capacity, as evidenced by sharply increasing number of applied and authorized patents, as it is learnt at the World Manufacturing Convention (WMC) 2019 recently held in Hefei, capital of east China's Anhui Province.

In 2019, China for the first time jumped into top 15 in terms of the global manufacturing innovation index released during the WMC. But meanwhile, more breakthroughs should be made in some key generic technologies applicable to different industries and fields.

It is learnt that Chinese ministries and commissions are formulating new policies, such as accelerating the planning and building of innovation centers in integrated circuit, information photoelectron, intelligent sensor, and other fields, and guiding financial institutions to invest more in advanced manufacturing and hi-tech manufacturing, according to the reporter.

-- Speeding up materialization of innovation policies

The signed projects at the WMC valued over 700 billion yuan, with manufacturing projects accounting for more than 80 percent, which mainly focus on industries such as equipment manufacturing, intelligent terminal, and information technology.

At present, design and manufacturing capacities of large and complex products are the major competitions in manufacturing industry, according to Wang Zhijun, vice minister of the Ministry of Industry and Information Technology (MIIT), adding that innovation will offer strong impetus for quality development of manufacturing industry.

However, the industry insider also pointed out that China's manufacturing industry is facing some constraints, for example, high dependency on overseas peers in key technologies and high-end equipment.

To solve the problem, China is striving to improve the innovation system of manufacturing industry. As of July this year, Chinese authorities have approved four national manufacturing innovation centers, and 13 national manufacturing innovation centers.

It is noted that MIIT will speed up the building of innovation centers in the fields of integrated circuit, information photoelectron, and intelligent sensor, aiming for the commercialization and industrialization of innovation results.

Meanwhile, it will also make efforts to strengthen basic industrial capacity, build R&D platform for generic technology, and accelerate the building of 5G and other new infrastructures, seeking to further modernize industrial chains.

As to financial support, the People's Bank of China (PBOC) recently announced that it will support the quality development of China's manufacturing industry, by guiding financial institutions in implementing differentiated credit policy, offering more support to advanced manufacturing and hi-tech manufacturing, and phasing out loans for fields with excess capacity.

-- Guidelines for "Strong Manufacturing Province" formulated

While the central government is rolling out new policies supporting innovation-driven development of manufacturing industry, many provinces and municipalities are also working out relevant polices and rules, striving to build them into a leading area of innovation-driven development of manufacturing industry.

Recently, Anhui Province issued relevant measures to support the building of a strong manufacturing province, according to which  the province will take advantage of the integrated development of the Yangtze River Delta, and work to develop electronic information, new energy vehicle, industrial robot, AI and other fields, as it seeks to realize innovation-driven transformation and upgrading.

Shanghai will harness its unique advantages in finance to boost the further integration of 5G, Industrial Internet, AI and other new technologies, and the real economy, in an effort to shape new edges in integrated circuit, high-end equipment, new materials, new energy vehicle, and other key strategic industries.

Starting from industry and technology cooperation, east China’s Jiangsu Province will focus on new-generation information technology, high-end equipment manufacturing and information materials.

-- Facilitating enterprises in becoming innovation players

Top priority should be given to innovation when it comes to the development of manufacturing industry, in a way to enhance the quality and efficiency of supply system, according to the experts at the WMC.

China should make coordinated efforts in terms of the policy environment for innovation, research institute building, and training of outstanding talents, according to Chen Xuedong, academician of the Chinese Academy of Engineering.

Chen suggested that Chinese state-owned enterprises should be encouraged to pursue technology innovation, and further efforts should be made to reform and improve technology innovation evaluation system. (Edited by Jiang Feifan)

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Keyword: China-economy manufacturing

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