The Chinese mainland is experiencing a significant boost in its industrial sector, fueled by impressive advancements in high-tech and equipment manufacturing. According to a recent government work report submitted to the national legislature, the added value of high-tech manufacturing surged by 8.9%, while equipment manufacturing saw a 7.7% increase.
One of the standout achievements this year is the remarkable production of new energy vehicles, with annual output exceeding 13 million units. This milestone highlights the mainland's commitment to sustainable innovation and green technology.
Beyond manufacturing, the report details substantial progress in reform and opening up. Institutional reforms have been successfully completed, setting the stage for a more unified national market. Additionally, measures such as gradually raising the statutory retirement age reflect the mainland's efforts to adapt to changing economic and demographic landscapes.
In a move to attract more global talent and investment, restrictions on foreign investment in the manufacturing sector have been lifted. This strategic decision is expected to foster greater international collaboration and growth. Furthermore, the ongoing development of the Belt and Road initiative continues to expand and upgrade, reinforcing the mainland's role in global trade and investment cooperation.
These comprehensive reforms and industrial upgrades demonstrate the Chinese mainland's dedication to building a robust and dynamic economy that is well-positioned for future challenges and opportunities.
Reference(s):
cgtn.com
