Looking into Drivers of Productivity and Growth In Advanced Manufacturing
Advanced manufacturing as an industry grew rapidly during China’s 13th Five-Year Plan (2016 - 2020), with the added value of high-tech manufacturing and equipment manufacturing accounting for 15.1% and 33.7% of the added value of industrial output. As the pandemic has disrupted the industrial framework in most western countries, China recovering quicker has a unique advantage in the industry. China should see innovation and technological development as drivers of productivity growth.
Taking the above into consideration, the 14th Five-Year Plan puts greater emphasis on advanced manufacturing. The Plan calls for cultivating advanced manufacturing industry clusters to promote innovation and foster the development of a range of technology industries, including integrated circuits. The European Chamber is honoured to invite the Zhoushan Municipal Government and Department of Commerce of Zhejiang Province to discuss the recent development of advanced manufacturing and further opportunities for foreign companies in China.