Business / Industries

Vice-Premier urges supply-side reform to upgrade manufacturing industry

(Xinhua) Updated: 2016-09-10 10:59

BEIJING - Vice-Premier Ma Kai on Friday called for more to be done to promote supply-side reform as a tool to move the manufacturing sector up the value chain.

Although solid progress has been made over the past three decades, challenges remain for the sector, such as overcapacity and a shortage of high-end products, Ma said at a forum.

He called for efforts to propel supply-side reform and the efficient implementation of the "Made in China 2025" initiative to upgrade the manufacturing industry.

Authorities at all levels should try hard to eliminate overcapacity and enhance innovation in all areas, Ma said.

He said the future was in the integration of manufacturing and the Internet, and measures that would help establish modern corporate systems and a salary distribution system.

Ma also called for a more friendly business environment to better protect intellectual property rights and help ensure orderly market competition.

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