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Govt to further boost advanced manufacturing, innovation and competitiveness

Updated: Mar 6,2019 11:02 AM

China will accelerate efforts to develop advanced manufacturing and strengthen its innovation and competitiveness, while renovating and upgrading traditional industries, said Miao Wei, minister of industry and information technology.

To promote high-quality manufacturing development, the country will simultaneously foster and develop emerging industries and new technologies, addressing industry overcapacity and push forward the intelligent manufacturing, Miao said on the sidelines of the ongoing two sessions.

The MIIT will further reduce the burdens of enterprises and improve the business environment, while expanding market access, streamlining administrative procedures and strengthening its support for small and medium-sized enterprises, Miao said.

Miao’s remarks came after the annual Central Economic Work Conference in December emphasized the unwavering efforts to build the country into a quality manufacturer. Developing high-quality manufacturing and helping the sector become deeply integrated with services are priorities.

China will cut the rate of value-added tax for manufacturers to 13 percent in 2019, from the current level of 16 percent, according to the annual Government Work Report delivered by Premier Li Keqiang on March 5.

In addition, Miao said by the end of February this year, 1.56 billion mobile phones were in use in China, surpassing the total population of the country.