Maintain composure and confidence towards becoming a manufacturing powerhouse - Minister of Industry and Information Technology Miao Wei responds to current hot issues in the industrial economy
Industrial economy is the backbone of a country's economy and a powerful lever for China to reconstruct its competitiveness as the global economy enters a period of deep adjustment. Faced with the complex domestic and international economic situation, driven by innovation and seizing the opportunity of a new round of technological revolution, China's industrial economy is showing a new trend, with positive factors gradually gathering and the pace of transformation accelerating.
How to view the operation of industrial economy? How can Chinese manufacturing respond to the constantly changing domestic and international situation? Minister of Industry and Information Technology Miao Wei recently responded to the above questions in an interview with Xinhua News Agency.
The stable operation and positive trend of the industrial economy are evident
Since the beginning of this year, China's industrial economy has been facing challenges and seizing opportunities, continuously improving its economic resilience and ability to resist external risks, showing a stable and positive trend.
According to data from the National Bureau of Statistics, in the first eight months, the added value of China's industrial enterprises above designated size increased by 6.5% year-on-year, with the added value of the manufacturing industry growing by 6.8%, faster than the expected target set at the beginning of the year.
Among many indicators, investment growth rate is one of the highlights. Miao Wei said that from January to August this year, China's manufacturing investment increased by 7.5% year-on-year, which is 3 percentage points faster than the same period last year, achieving the fastest growth rate since March 2016.
Today's investment will bring tomorrow's output, "Miao Wei said. These support the stable and positive operation of the industry, and also indicate the good expectations of enterprises, industries, and society for China's manufacturing industry.
The performance of high-tech manufacturing industry demonstrates the pace of structural transformation. Miao Wei said that in the first 8 months, the growth rate of added value in high-tech manufacturing was 5.1 percentage points faster than that of the overall manufacturing industry. Industries such as electronic manufacturing, aerospace and equipment manufacturing have maintained double-digit growth rates.
Miao Wei said that the adjustment of China's manufacturing structure is deepening, and more and more enterprises are taking innovation as the primary driving force for development, attaching importance to research and development, closely monitoring the market, transforming mechanisms, and embarking on a path of connotative development from manufacturing to creation.
Embracing information technology, the trend of industry and enterprise integration has emerged. Miao Wei said that as of now, the penetration rate of the "double innovation" platform for key manufacturing industry backbone enterprises has exceeded 73%, and the level of digitalization, networking, and intelligence in the manufacturing industry continues to improve. The combination of information technology and manufacturing has given rise to new formats such as large-scale personalized customization, bringing development space and potential.
Miao Wei said that although there is still a significant gap between China and developed countries in fields such as technology, and the operation of the industrial economy faces many challenges, as long as we adhere to the path of innovative development, continuously stimulate the vitality of market entities, make good use of domestic demand potential, and release institutional advantages, we can turn disadvantages into advantages and promote the development of Chinese manufacturing into a new platform.
Maintain strategic determination and firm confidence in development
In the face of a stable and changing environment, maintain composure and firm confidence to avoid losing direction. The Central Political Bureau meeting held at the end of July proposed to stabilize employment, finance, foreign trade, foreign investment, investment, and expectations, pointing out the focus and direction for future economic work.
Miao Wei believes that after long-term development, China's manufacturing industry has achieved a historic leap. The huge domestic market, complete industrial chain, and quality assurance system that adapts to global standards have laid a solid foundation for Chinese manufacturing. At the same time, the long-term positive industrial economic fundamentals and the continuous promotion of innovative transformation have become the ballast and driving force for stabilizing expectations and boosting confidence.
Miao Wei believes that in the near future, the impact of the economic and trade frictions between China and the United States on Chinese enterprises and industries is limited. Our manufacturing industry has great room for maneuver, resilience, and the ability to overcome the difficulties we are currently facing. We have the confidence and determination to turn danger into opportunity.
China will maintain strategic determination and transform from a manufacturing powerhouse to a manufacturing powerhouse in accordance with established goals and policies, "said Miao Wei.
Recently, measures to stabilize expectations and boost confidence are constantly being taken. Miao Wei said that the next step would be to improve the integrated development policy system, continue to carry out the pilot demonstration of integration of industrialization and industrialization, implement the construction and promotion project of industrial Internet platform, and promote the "mass entrepreneurship and innovation" development of the manufacturing industry.
In terms of reducing the burden on enterprises, Miao Wei said that we should give full play to the role of the inter ministerial joint conference mechanism to reduce the burden on enterprises, ensure that the average electricity price for general industry and commerce is reduced by 10%, carry out special inspections on enterprise guarantee deposits, and implement the reduction of enterprise burden. At the same time, more than 20 cities across the country will be selected to carry out pilot projects for industrial and financial cooperation in conjunction with relevant departments, promoting the financial industry to support the development of the real economy.
We need to grasp the timing and pace of policy implementation, further streamline administration and delegate power, and create a better business and investment environment for enterprises, "said Miao Wei.
Firmly open up to the outside world and seek win-win cooperation
An open market for goods, services, and capital will undoubtedly drive the growth and prosperity of relevant countries and the global economy. In the current era of economic globalization, no country can seek its own development behind closed doors. Only through win-win cooperation can we lead to a better future for the world.
Although the economic and trade friction between China and the United States has escalated, our determination to open up to the outside world has not been affected in any way. "Miao Wei said that in the new round of expanding opening up, China has lowered the entry threshold for foreign investment into China, especially in the general manufacturing industry, which has further opened up the entry threshold for foreign investment in manufacturing industries such as automobiles, ships, and airplanes, and has formulated a timetable for opening up to foreign investment. At the same time, China has significantly reduced import tariffs on industrial products and made new progress in opening up to the outside world.
Currently, the overall level of tariffs in China is lower than that of developing economies. With further expansion and opening up, China will continue to lower its import tariff levels annually and in stages, "said Miao Wei.
While continuing to adhere to the principle of "bringing in", China also further encourages Chinese enterprises to "go global", especially in countries along the "the Belt and Road", to make due contributions to local economic and social development.
We believe that the door to opening up to the outside world will only become bigger and will not be affected by the economic and trade frictions between China and the United States, "said Miao Wei.
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