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China Will Deepen Open Cooperation In Manufacturing
Apr 20, 2018

On the 20th, Miao Wei, minister of the Ministry of Industry and Information Technology of China, said that it will continue to deepen open cooperation in manufacturing, and further implement the opening requirements for automobiles, ships, aircrafts and other industries on the basis of basic opening up, and advance the countries along the “Belt and Road” initiative in smart manufacturing and industry. Exchanges and cooperation in the Internet and other fields to optimize the business environment.

Miao Wei said that the overall openness of China's manufacturing industry has been formed and continuously deepened.

In the open field, in 2017 China's manufacturing industry has newly established 4,986 foreign-invested enterprises, a year-on-year increase of 24.3%. Among the 31 major categories, 179 medium-sized and 609 small-scale manufacturing industries, there are 22 major categories, 167 medium-sized and 585 small categories that are completely open to foreign investment. Overseas investment by Chinese companies has also shown strong growth in recent years.

The cooperation area has been continuously expanded and the level of opening has been continuously improved. In recent years, the focus of foreign investment has gradually expanded from processing and manufacturing to high-tech fields such as computers, integrated circuits, and intelligent manufacturing.

Miao Wei said that the open Chinese manufacturing industry has benefited from the investment of foreign capital, technology, and talent, and has continued to provide good returns for foreign companies. Take automobile as an example. In 2017, a total of 24.72 million passenger cars were sold in China, of which the German, Japanese, U.S., Korean, and French passenger car sales reached 4.85 million, 4.2 million, and 3.04 million, respectively. 1.14 million vehicles and 460,000 vehicles.

Overseas investments by Chinese manufacturing companies have also brought local funds, technologies and products, which have promoted local employment, development and taxation. As of the end of 2017, the cumulative investment of Chinese enterprises alone in the foreign economic and trade cooperation zone reached 30.7 billion U.S. dollars, creating 258,000 jobs for the local people.

Miao Miao said that with the rise of China's manufacturing industry, some people are worried that structural problems such as overcapacity in the development of China's manufacturing industry will be spilled, and some people are worried that the “Made in China 2025” will create unfair competition barriers for companies in other countries. These doubts are unnecessary. Regardless of the past, the present, or the future, mutual benefit and win-win cooperation and open cooperation are the fundamental principles that are adhered to in the development of China's manufacturing industry.

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