China eyes convergence of advanced manufacturing and services industry

China aims to cultivate a batch of enterprises, platforms and pilot zones which excel in the in-depth integration of advanced manufacturing and the services industry by 2025.

The National Development and Reform Commission, China’s top economic planner, together with 14 other related ministries and departments, on Friday, November 15, issued a document pushing for further integration of advanced manufacturing and the modern services industry.

The moves comes at a time when the services industry accounts for over 50 percent of the GDP of the world’s second-largest economy, and when the central government is placing repeated emphasis on manufacturing, with advanced manufacturing as its key driver.

The document calls for development in sectors such as smart factories, the Industrial Internet of Things, smart supply chain management and full life cycle management.

For instance, the country aims to replace traditional cars with smart ones, tap the data which they generate, and use it to provide support to the improvement of car manufacturing, city planning and grid improvement.

The document said that leading companies or areas heralding this trend will be given, based on commercial principles, favorable financial resources over the mid and long-term. Entities will also be supported by the facilitation of bond issuance, listing and access to other financing tools. 

Source：Global Times

On September 22, 2019, in the digital integration exhibition area of 2019 World Manufacturing Convention, the audience rushed to shake hands with 5G smart dexterous hands. (Photo by Xu Qingyou People’s Daily Online)