July 16th, 2019
What is the biggest 2019 tech trend in China?
China launched its industrial strategy “Made in China 2025” (MIC25) in 2015. The strategy defines 10 core industries, including new-generation IT, robotics and power equipment, which China wants to achieve major breakthroughs, and shows China’s ambition to become a global manufacturing (制造强国), cyber (网络强国) and science and technology innovation superpower (科技创新强国) by 2049. Four years after its official launch, how’s the progress of MIC25?
According to a study by MERICS, Chinese government had issued 445 official documents for the implementation of MIC25 by the end of 2018. About 300 billion USD, nearly 2.2 percent of GDP, was invested by China in research and development last year. About 4,000 pilot projects related to new technologies were announced. National manufacturing innovation centers and demonstration cities have been set up to leverage corporate alliances, focus on specific industries, cutting-edge technologies & related services.
Although China has toned down its references to MIC25 due to international criticism, the country's aim remains unchanged and the MIC25 strategy is being implemented.