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High-Quality Development of Manufacturing Industry: Policy Options
--A case study on the establishment of a global advanced manufacturing base in Zhejiang Province (No.241, 2021)

2021-10-29

By Gao Taishan, Ma Yuan, Ma Jun & Yuan Dongming, Enterprise Research Institute, DRC

Research Report, No.241, 2021 (Total 6306) 2021-9-2

Abstract: Manufacturing industry is key to boosting national economy, improving people’s living standards and enhancing regional development. Zhejiang province boasts a strong manufacturing industry and the transformation and upgrading of manufacturing industry in Zhejiang province is of great significance to driving high-quality development of domestic manufacturing sector and turning China into a manufacturing powerhouse. Since the launch of the 13th Five-Year Plan (2016-2020), Zhejiang province has seen steady progress of its manufacturing industry by following the new development philosophy in leading high-quality development of the manufacturing industry and in the pursuit of building China into a leader in manufacturing field. In the new era, Zhejiang province still faces some urgent problems in building itself into a global advanced manufacturing base, such as low industrial value-added rate and labor productivity, the shortage of professionals in manufacturing domain, insufficient support for technological innovation, and weak driving forces for digital transformation. During the 14th Five-Year Plan period (2021-2025), efforts are needed to focus on meeting demands and addressing problems and seize opportunities of digital transformation. It is advisable for the provincial government of Zhejiang to stimulate the vitality of the private economy, pursue digital, high-end and green development of the manufacturing industry, boost emerging industries, transform and upgrade traditional industries, refine the environment for innovation, and give full play to comprehensive advantages of manufacturing, commerce and logistics of the province for integrating innovation with development and providing references for other parts of the country in terms of high-quality development of manufacturing industry.

Keywords: manufacturing industry, high-quality development, a base of advanced manufacturing industry