China’s Xi calls for ‘bigger, stronger’ advanced manufacturing sector

President Xi Jinping has emphasized the need for China to bolster its advanced manufacturing sector, making it both larger and stronger, according to official news agency Xinhua. The call for enhanced control over key industrial supply chains follows rising concerns, particularly in Europe, over China's increasing exports of electric vehicles and other green-tech products, which has sparked worries of a new wave of competitive pressure, dubbed China Shock 2.0.

Addressing the National Advanced Manufacturing Conference in Beijing, Xi reiterated China's commitment to further expanding the advanced manufacturing sector. He stressed the importance of enhancing the autonomy and controllability of industrial chains and accelerating the development of a modern industrial system, with advanced manufacturing as its cornerstone.

China has made considerable progress in becoming a manufacturing powerhouse, with its advanced manufacturing sector witnessing advancements in innovation, competitiveness, and strength. However, despite these strides, the high-tech boom has not yet translated into stronger household incomes and consumption levels.

To address this, Premier Li Qiang has urged China to focus on next-generation intelligent manufacturing, expedite digital and AI-driven industrial upgrades, and intensify efforts to develop indigenous high-end technologies.