Foreigners share views on Made in China 2025 strategy
Editor's note: The Made in China 2025 action plan, rolled out in 2015, aims to upgrade the country's manufacturing industry and turn China into a global manufacturing giant. Forum readers share their opinions.
Made in China 2025 is designed to upgrade domestic industries to serve domestic markets using indigenous designs and technologies. That means more R&D spending to develop indigenous brands, channels, designs and technologies.
In some sectors such as high-speed rail, 4G/5G telecommunications, electric vehicles, maglevs, etc, China is already ahead of the USA.
China needs to finance and support the development of indigenous designs and technologies because local companies don’t have the resources to compete against Western counterparts.
In the past, China relied upon foreign designs and technologies to manufacture products for export markets. In the future, foreign companies will depend upon Chinese designs and technologies to manufacture products for the Chinese market.