Give high-end equipment industry a boost
Given that manufacturing is the lifeblood of the economy and the foundation of a country’s national strength, how to develop its manufacturing, particularly high-end equipment manufacturing, to boost the competitiveness of its whole industrial chain, remains a pressing task.
High-end equipment manufacturing, as a pillar of the manufacturing sector, is “the heart of the industrial economy”. Data show that the current market size of China’s high-end equipment manufacturing industry is between 200 billion yuan ($29.98 billion) and 300 billion yuan. That gives it a leading position in terms of development scale and production capacity. However, many high-end and core technologies still depend on foreign investment, thus seriously hindering their development.
To promote the high-quality development of its high-end equipment manufacturing, China should speed up technological innovation and remove some technological bottlenecks. It should give full play to its institutional advantages, improve the market-oriented mechanism for technological innovation, strengthen the leading position of enterprises in innovation and embark on a self-reliant, innovative, and high-quality development path.
China should strengthen the government-guided role in overall planning and top-level design, and give full play to its institutional advantages in institutional optimization, policy guidance and technological innovation system construction, and increase the policy support and financial guarantee for technological innovation in the high-end equipment manufacturing industry through tax and fee cuts, fiscal subsidies and financing support. It also needs to improve the market-oriented mechanism for technological innovation, and enhance the ability to guarantee factors of production, foster and expand new drivers of industrial development.
It should also set up a unified, open market system with orderly competition, create a market environment for fair competition and improve the modern market regulation system to further stimulate the vitality of technological innovation.