What More Can Xi Jinping Do For China Inc.?
Beijing wants more high-end manufacturing, but it’s on Chinese companies to make the next big leap.
Searching for self-reliance.
Source: AFP/Getty Images
As Beijing tries to set growth expectations and bolster its economy, President Xi Jinping has reinforced the manufacturing industry’s pivotal role. It is, he said, “an indispensable sector to China at all times.”
That’s true, but it’s worth wondering how China can maintain the sector’s contribution as it tries to move up the industrial value chain. Rallying delegates at the annual session of the National People’s Congress in Beijing on Sunday, Xi said China will take “forceful” measures to support advanced production. He called for better quality growth and accelerating moves “to attain a high level of self-reliance in science and technology.”