Home / Technology
To this end, "Made in China 2025" will focus on five major projects, including the establishment of a manufacturing innovation center, according to Su.
A focus on innovation has resulted in some domestic companies, such as telecommunications giant Huawei, climbing up the value chain. The Shenzhen-based company has spent more than 190 billion yuan on R&D over the past decade. Of its 150,000 employees, more than 45 percent are in innovation, research and development positions.
In 2014, spending on R&D in China accounted for 2.1 percent of GDP, a record high. The proportion in some regions such as Shanghai was as high as 3.6 percent.
Thanks to these efforts, improvements can be seen, such as the industrial value added of the high-tech sector and equipment manufacturing, which jumped by 11.4 percent and 7.7 percent respectively in the first quarter, out-pacing overall industrial growth.
Industrial output grew 6.4 percent year on year in the January-March period, down from 8.7-percent growth a year ago.
By 2025, the plan aims to see the lead time of products shortened by 20 percent of the current average, according to the insider.
"Made in China 2025", proposed in this year's government work report, was touted as having the potential to empower the manufacturing sector.
