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China aims for globalized manufacturing sector

Reporter: Tang Bo 丨 CCTV.com

05-21-2015 05:36 BJT

Full coverage: Made in China 2025

China wants to turn its manufacturing enterprises into globalized, multinational corporations -- That was the over-riding sentiment to emerge from a press conference given this morning by the National Development and Reform Commission.

The NDRC stressed the importance of exporting China's industrial capacity - calling the process a key pillar of the country's new economic normal.

China issued a guideline on Saturday to help boost cooperation in production capacity and equipment manufacturing with other countries. The National Development and Reform Commission says the guideline seeks a new level of international cooperation in China's key sectors.

“In the past, international economic cooperation for China was conducted in the form of international trade that we export our products to the rest of the world," said Gu Dawei, Nat'l Development & Reform Commission.

"But from now on, we are also going to export our industries and production capacity to the target countries to help them build up a sound industrial system of their own. After more than 30 years of rapid development, China has had a great advantage in equipment manufacturing. China is able and ready to do so."

The guideline designates a list of 12 sectors for more international cooperation, including steel, railways and aviation.

“Carrying out such kinds of international cooperation will be beneficial for Chinese enterprises to allocate resources globally and become more competitive on the world stage. Besides, the equipment manufacturing industry is fatal for a country’s comprehensive national development. Only by going out can we make our manufacturing industry more competitive and stronger in the world," Gu Dawei said.

China has been doing well in exporting its production capacity. Non-financial companies from China invested more than US$ 25 billion (25.8) in 143 countries and regions in the first quarter. That's up more than 29 (29.6) percent from the previous year.

China's continuing overseas investments are also being highlighted during Premier Ki Keqiang’s ongoing trip to Latin America as a number of bilateral deals to improve outdated infrastructure and insufficient foreign investment in the region are expected.

There hasn’t been a concrete target for investment growth. But the guideline says priority will be given to developing countries whose demands are complementary with China’s underutilized industrial capacity, and those countries willing to cooperate with China. Efforts will also be made to expand markets in developed countries.

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