China's Xi calls for 'bigger, stronger' advanced manufacturing sector

President Xi Jinping has called for China to make its advanced manufacturing sector "bigger and stronger" and strengthen control over key industrial supply chains, official news agency Xinhua said on Thursday.

Xi's remarks come amid growing concern, particularly in Europe, over rising Chinese exports of electric vehicles and other green-tech products, fuelling fears of a new wave of competitive pressure dubbed "China Shock 2.0".

China will "continue making advanced manufacturing bigger and stronger, enhance the autonomy and controllability of industrial chains," Xi said in remarks delivered at the National Advanced Manufacturing Conference in Beijing this week.

He also called for the acceleration of efforts to building of a modern industrial system with advanced manufacturing as its backbone.

China has made significant strides toward becoming a manufacturing powerhouse, with its advanced manufacturing sector gaining in innovation, competitiveness and strength, Xi said.

Beijing has shifted credit and resources from property to advanced manufacturing to boost technological self-reliance and growth, but the high-tech boom has yet to deliver stronger household incomes and consumption.

Premier Li Qiang said China should focus on next-generation intelligent manufacturing, accelerate digital and AI-driven industrial upgrades, and strengthen its push for indigenous high-end technologies.

Reuters

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