Page 212 - 2022 White Paper on the Business Environment in China
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2 White Paper on the Business Environment in China
of urbanization, the real estate market will not technologies, products and equipment, including
experience a roller-coaster period in the foreseeable basic parts, basic electronic components, basic
future. As various regions have accelerated software, basic materials, basic technology, high-end
the push for implementing major projects, the equipment, integrated circuits and cybersecurity.
investment in infrastructure is set to remain The new guideline said the country will make a big
stable. And the investments in manufacturing are push to strengthen enterprises' abilities to innovate,
set to benefit from the government's effective support the construction of innovation platforms
measures to prevent and control the COVID-19 such as manufacturing innovation center and the
pandemic, the steady recovery of domestic and national engineering research center, promote the
overseas demand, the government's supportive development of industrial digitalization and raise the
policies and the overall improvement in corporate levels of industrial and supply chain modernization.
profits. China is set to issue the new infrastructure More efforts will also be made to encourage qualified
construction plan for the 14th Five-Year Plan high-quality enterprises to go public and issue bonds,
period (2021-25) before 2022 to accelerate the inspire other leading enterprises and single-product
construction of new types of infrastructure. specialists to build research and development
The construction of new infrastructure, new facilities and design centers across the globe, and
urbanization initiatives and major projects are persuade local governments to build cooperation
conducive to balancing the short- and medium-to- parks with foreign entities in an orderly manner. The
long-term economic development goals. For the MIIT said the new guideline is in line with the Outline
short term, it will help stabilize investment, create for the 14th Five-Year Plan for Economic and Social
jobs and cushion the corona-virus impact. In the Development and Long-Range Objectives through
medium to long term, it will stress the weak links, the Year 2035. According to the outline, China will
meet the need for consumption upgrade, promote implement the pilot enterprise cultivation project
industrial restructuring and upgrading, enhance and grow a group of enterprises with leadership
regional competitiveness, promote high-quality capabilities spanning their entire ecosystem as
development and improve investment efficiency well as core competitiveness. It will also increase
(Ouyang, Key Projects). professional advantages for small and medium-
sized enterprises and cultivate specialized and new
Industrial Supply Chains little giant enterprises and single-product specialists
in the manufacturing industry. A total of 133 Chinese
China's Ministry of Industry and Information companies were on the Fortune Global 500 2020
Technology, the top industry regulator, has unveiled list. However, those companies' average operating
new steps to support the development of potential income and profits only account for 81% and 60.3%
manufacturing leaders. The move is to strengthen of the US companies on the list respectively.
the nation's industrial and supply chains as well as
accelerate the process of transforming the country Construction Machinery
into a manufacturing powerhouse. The country will
strive to cultivate 10,000 little giant companies with Business has been booming for Chinese
high growth potential, advanced technologies and excavator makers since the beginning of 2021,
strong market competitive edge before 2025. By fueled by surging market demand and signs of
then, 1,000 single-product champion enterprises economic rebound both at home and abroad. In the
and a group of leading enterprises with core first quarter, China's top 26 excavator makers sold
competitiveness in the manufacturing sector will a total of 126,941 digging machines, up 85% year-
be formed. The new move marks a key step to on-year. As new orders surged, excavator sales in
spur market entities' vitality and foster high-quality February hit a record. The figure, often regarded
development of the manufacturing sector, which as a key barometer of the vitality of an economy,
will also help forestall and defuse risks and make corroborated the country's better-than-expected
industrial and supply chains more self-supporting. economic recovery and solid fundamentals.
China plans to intensify efforts to make major Business activity in China's manufacturing and
breakthroughs and support the applications of core service sectors has been picking up pace. The
212
of urbanization, the real estate market will not technologies, products and equipment, including
experience a roller-coaster period in the foreseeable basic parts, basic electronic components, basic
future. As various regions have accelerated software, basic materials, basic technology, high-end
the push for implementing major projects, the equipment, integrated circuits and cybersecurity.
investment in infrastructure is set to remain The new guideline said the country will make a big
stable. And the investments in manufacturing are push to strengthen enterprises' abilities to innovate,
set to benefit from the government's effective support the construction of innovation platforms
measures to prevent and control the COVID-19 such as manufacturing innovation center and the
pandemic, the steady recovery of domestic and national engineering research center, promote the
overseas demand, the government's supportive development of industrial digitalization and raise the
policies and the overall improvement in corporate levels of industrial and supply chain modernization.
profits. China is set to issue the new infrastructure More efforts will also be made to encourage qualified
construction plan for the 14th Five-Year Plan high-quality enterprises to go public and issue bonds,
period (2021-25) before 2022 to accelerate the inspire other leading enterprises and single-product
construction of new types of infrastructure. specialists to build research and development
The construction of new infrastructure, new facilities and design centers across the globe, and
urbanization initiatives and major projects are persuade local governments to build cooperation
conducive to balancing the short- and medium-to- parks with foreign entities in an orderly manner. The
long-term economic development goals. For the MIIT said the new guideline is in line with the Outline
short term, it will help stabilize investment, create for the 14th Five-Year Plan for Economic and Social
jobs and cushion the corona-virus impact. In the Development and Long-Range Objectives through
medium to long term, it will stress the weak links, the Year 2035. According to the outline, China will
meet the need for consumption upgrade, promote implement the pilot enterprise cultivation project
industrial restructuring and upgrading, enhance and grow a group of enterprises with leadership
regional competitiveness, promote high-quality capabilities spanning their entire ecosystem as
development and improve investment efficiency well as core competitiveness. It will also increase
(Ouyang, Key Projects). professional advantages for small and medium-
sized enterprises and cultivate specialized and new
Industrial Supply Chains little giant enterprises and single-product specialists
in the manufacturing industry. A total of 133 Chinese
China's Ministry of Industry and Information companies were on the Fortune Global 500 2020
Technology, the top industry regulator, has unveiled list. However, those companies' average operating
new steps to support the development of potential income and profits only account for 81% and 60.3%
manufacturing leaders. The move is to strengthen of the US companies on the list respectively.
the nation's industrial and supply chains as well as
accelerate the process of transforming the country Construction Machinery
into a manufacturing powerhouse. The country will
strive to cultivate 10,000 little giant companies with Business has been booming for Chinese
high growth potential, advanced technologies and excavator makers since the beginning of 2021,
strong market competitive edge before 2025. By fueled by surging market demand and signs of
then, 1,000 single-product champion enterprises economic rebound both at home and abroad. In the
and a group of leading enterprises with core first quarter, China's top 26 excavator makers sold
competitiveness in the manufacturing sector will a total of 126,941 digging machines, up 85% year-
be formed. The new move marks a key step to on-year. As new orders surged, excavator sales in
spur market entities' vitality and foster high-quality February hit a record. The figure, often regarded
development of the manufacturing sector, which as a key barometer of the vitality of an economy,
will also help forestall and defuse risks and make corroborated the country's better-than-expected
industrial and supply chains more self-supporting. economic recovery and solid fundamentals.
China plans to intensify efforts to make major Business activity in China's manufacturing and
breakthroughs and support the applications of core service sectors has been picking up pace. The
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