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Key Problems that Restrict High-quality Development of China’s Manufacturing Industry: Underlying Reasons and Policy Options (No.138, 2020)
2020-07-23
By Li Yan, Research Team on “Promoting High-Quality Development of the Manufacturing Industry”, Research Department of Industrial Economy, DRC
Research Report, No.138, 2020 (Total 5882) 2020-6-9
Abstract: China has become a major manufacturing power with great influence, but there are also some problems, such as weak innovation ability, poor quality of supply system, low added value in manufacturing products and great pressure on resources and environment, which have become key restraints on high-quality development. The underlying reasons of these problems is that systems, mechanisms and social environment conducive to high-quality development have not yet been formed. The main reasons are as follows: the imbalance of industry rewards leading to a situation where good productive factors prefer fictitious sectors like finance to the real economy like manufacturing, the imperfect system and mechanism for the coordinated development among real economy, scientific and technological innovation, modern finance and human resources, the unsound system of quality and technology management short of high standards and strict implementation, as well as the lack of a positive incentive mechanism for fair competition and a social atmosphere that encourages industrial development. The policy options are as follows. We need to focus on improving the environment for high-quality development-oriented factors, and enhancing business environment, scientific, technological and educational systems, industrial policies and sociocultural environment in accordance with the market principles and laws, so as to create favorable conditions for high-quality development of the manufacturing industry.
Keywords: manufacturing industry, high-quality development, underlying reasons, policy options
