April 18, 2024 04:24 GMT
MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025
MNI (BEIJING)
MNI (Beijing)
Authorities will provide support to ensure 70% of manufacturing firms are digitalised and open several smart factories by 2025, according to Shan Zhongde, vice minister of the Ministry of Industry and Information Technology.
Speaking to reporters on Thursday, Shan said authorities will improve 5G infrastructure aimed at building several industrial internet platforms with industry and regional influence also by 2025.
China’s manufacturing investment is set to maintain strong growth throughout the year thanks to policy stimulus, but weak demand means overcapacity will grow as well, depressing corporate profits and adding to the potential for trade friction, advisors and analysts recently told MNI. (See MNI: Stimulus Seen Boosting China Manufacturing, Overcapacity)
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