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

Beijing, China - President Xi Jinping has urged China to expand and strengthen its advanced manufacturing sector, according to official news agency Xinhua. This call comes as Europe grows increasingly worried about the surge in Chinese exports of electric vehicles and other green-tech products, which has sparked fears of a new wave of competitive pressure known as "China Shock 2.0."

Speaking at the National Advanced Manufacturing Conference in Beijing, Xi reiterated China's commitment to making advanced manufacturing bigger and stronger, enhancing the autonomy and control of industrial chains. He also emphasized the need to accelerate the development of a modern industrial system with advanced manufacturing as its core.

Xi noted that China has made substantial progress in becoming a manufacturing leader, with its advanced manufacturing sector becoming more innovative, competitive, and robust. However, the high-tech boom has yet to translate into higher household incomes and consumption. Premier Li Qiang highlighted the importance of focusing on next-generation intelligent manufacturing, accelerating digital and AI-driven industrial upgrades, and strengthening the push for indigenous high-end technologies.