Key facts
- President Xi Jinping called for China to make its advanced manufacturing sector 'bigger and stronger'.
- Xi also urged strengthening the autonomy and controllability of key industrial supply chains.
- The remarks were made at the National Advanced Manufacturing Conference in Beijing.
- Premier Li Qiang advocated for focusing on next-generation intelligent manufacturing and AI-driven industrial upgrades.
- Beijing has shifted credit and resources from property to advanced manufacturing to boost technological self-reliance.
President Xi Jinping has called for China to make its advanced manufacturing sector "bigger and stronger" and strengthen control over key industrial supply chains, according to official news agency Xinhua. Xi's remarks, delivered at the National Advanced Manufacturing Conference in Beijing this week, come amid growing concern, particularly in Europe, over rising Chinese exports of electric vehicles and other green-tech products, fueling fears of a new wave of competitive pressure dubbed "China Shock 2.0".
China will "continue making advanced manufacturing bigger and stronger, enhance the autonomy and controllability of industrial chains," Xi said. He also called for accelerating the building of a modern industrial system with advanced manufacturing as its backbone. Xi stated that China has made significant strides toward becoming a manufacturing powerhouse, with its advanced manufacturing sector gaining in innovation, competitiveness, and strength.
Beijing has shifted credit and resources from the property sector to advanced manufacturing to boost technological self-reliance and growth, though this high-tech boom has yet to translate into stronger household incomes and consumption. Premier Li Qiang said China should focus on next-generation intelligent manufacturing, accelerate digital and AI-driven industrial upgrades, and strengthen its push for indigenous high-end technologies.