China’s grand plans can attract more foreign investment

21 Aug 2017

Beijing, 21st August, 2017 – An event hosted today by the Global Manufacturing and Industrialisation Summit (GMIS) examined two of China’s grand plans—China Manufacturing 2025 (CM2025) and the Belt and Road Initiative (BRI)—and the impact they may have on both its labour force and existing supply chains. The half-day conference, themed Taking Manufacturing to the Next Level, was jointly organised by the GMIS, Siemens AG and the China Federation of Industrial Economics (CFIE), in collaboration with the European Chamber of Commerce in China.

Some of the main challenges China faces include how effective implementation of CM2025 may be hindered by its lack of skilled workers, and how its commitments to reducing non-fossil fuels will impact traditional industries. Additionally, if China’s industrial upgrading facilitates its integration with modern, digital supply chains, this could affect its interactions with countries along the New Silk Road, many of which are not at an advanced stage of development.

Despite these challenges, though, interest has already been raised among some global manufacturers, with one of the companies that took part in the conference taking the decision to increase their investments in China. “We are confident in China’s ability to move its manufacturing base to the next level, and have committed to building two technical centres in Chengdu. We hope that they will support China’s intelligent manufacturing ambitions,” said Wang Haibin, Executive Vice President and General Manager of Siemens Digital Factory Division.

The GMIS is also positive about these developments, and sees China as a good example of how manufacturing can create wealth and establish strong global partnerships. “We are hosting this conference in China for the second time to learn more about the most pressing issues faced by manufacturers around the world, such as the relationship between man and machine, the outlook for the Fourth Industrial Revolution and climate change,” said Badr Al-Olama, Head of the GMIS Organising Committee. “We believe that the Chinese manufacturing sector can pave the way for others around the world.”    

As one of its strategic partners, the CFIE says that its mission corresponds closely with that of GMIS. “We are committed to promoting openness, innovation and cooperation in China’s industrial sector,” said Xiong Meng, Executive Vice Chairman of the CFIE. “We are ready to contribute to supply-side structural reform, the construction of a new type of manufacturing system, and building China into a real manufacturing power.” 

The European Chamber believes that China’s potential can be fulfilled as long as it follows through on its commitments to economic globalisation, as stated by President Xi Jinping during the World Economic Forum in Davos earlier in 2017. “The success of CM2025 hinges on its integration into global supply chains, and the BRI will flourish only when it is embraced by the rest of the world and seen as a global project. We have always been clear on this,” said European Chamber President Mats Harborn. “Thus both CM2025 and the BRI can be major achievements provided they are predicated on open markets, balanced trade, transparency and reciprocity.”

The inaugural Global Manufacturing and Industrialisation Summit was held in Abu Dhabi, the United Arab Emirates (UAE), in March this year. A joint initiative by the UAE Ministry of Economy and the United Nations Industrial Development Organization (UNIDO), the Summit is a global gathering for the manufacturing community, bringing together decision-making leaders from governments, businesses and civil society organisations to shape a vision for the sector’s future.

The picture: Badr Al-Olama, Head of the Global Manufacturing and Industrialisation Summit Organising Committee and Xiong Meng, Executive Vice Chairman of the CFIE, sign the renewed strategic partnership agreement between GMIS and CFIE.

About the Global Manufacturing and Industrialisation Summit

As the world’s first cross-industry forum, the Global Manufacturing and Industrialisation Summit is a global gathering for manufacturing minds. It is a voice and a venue for global manufacturing transformation. More than 1,200 delegates will attend, including world leaders, industry CEOs, policy-makers, specialist researchers and academics. The Global Manufacturing and Industrialisation Summit will deliver (i) a voice for transformational ideas, (ii) a venue for the generation of new networks and cross-industry partnerships, (iii) a showcase for pilot projects arising from cross-industry research.

transition: 100ms ease-out; transform: translate3d(-37px, 77px, 31px);


Subscribe to our newsletter.